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Benefits of registering startups under DPIIT
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Self-Certification
After receiving the DPIIT Certificate of Recognition for Startups, the organisation will have the ability to attest to its compliance with three environmental laws and six labour laws on its own.
Limited liability
Application for a Startup Patent
Startups will have the option to expedite the processing of their patent applications, and DPIIT recognised startups will only be required to pay 80% of the fees associated with patents, trademarks, copyrights, and designs.
Brand Image
Simpler Public Procurement Guidelines
Startups that have received DPIIT recognition can now list their products on the Government e-Marketplace and take advantage of streamlined public procurement regulations. These startups also receive respite from past experience/turnover requirements when interacting with ministries and divisions of the Central Government, as well as exemptions from filing Earnest Money Deposits. This more efficient method that enables startups to contribute and participate more in government programmes.
Fund Raising
Simple Company winding up
The Insolvency and Bankruptcy Code of 2016 states that a company may be wound up ninety days after filing for bankruptcy.
Eligibility For registering startups scheme under DPIIT
To receive the DPIIT Certificate of Recognition, the startup needs to fulfil the following qualifying requirements:
Duration of Entity: The company's operations and existence should not go beyond ten years from the date of creation.
Kind of Entity: For a business that is incorporated as a Private Limited Company, Limited Liability Partnership (LLP), or Registered Partnership Firm, the DPIIT Certificate of Recognition is given.
Annual Exchange Rate: The company must have had an annual turnover of Rs. 100 crores for any fiscal year since its formation in order to receive the DPIIT Certificate of Recognition.
The first entity: The company should not have been incorporated by dividing up or recreating an already existing entity in order to be eligible for the DPIIT Certificate of Recognition.
Innovative and Scalable Entity: The organisation should be focused on creating or enhancing a process, product, or service.
How to obtain a DPIIT startups Certificate?
Step 1: Establishing the business entity
The business must first be incorporated as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP). Contact StartPayOnline Accounting to initiate the registration process of your business.
Step 2: Business Registration with Startup India Programme
For the business to receive the DPIIT certificate of recognition, it must register with the Startup India Scheme.
Setp 3: Submit application for startup Registration
To seek Start-up Registration and obtain the DPIIT Certificate of Recognition for Startups, the applicant unit is required to visit the Start-up India registration portal and complete the process with Start-up registration in India.
Step 4: Fill out the Start-up Registration application with the following information:
In the Start-up Registration application, detailed information is required to be provided in multiple areas. In addition to essential information like the Company Incorporation Number and Registration Date, this also includes details about the entity's type, industry, sector, and categories. The complete address of the entity must also be mentioned, as well as specifics regarding the authorised representative and any participating directors or partners. The application necessitates the submission of any intellectual property rights that the entity may possess, information regarding the funds obtained, and any previous recognition that the business has received. In order to pursue Start-up Recognition, this extensive documentation guarantees a full assessment of the entity's structure, leadership, intellectual property assets, financial backing, and prior acknowledgments.
Step 5: Obtain your Startup Registration Number
Following review of the application and supporting materials, the DPIIT Certificate of Registration for Startups will be granted. Once the ministry approves the application and assigns the unique number, the startup becomes eligible for registration with tax benefits.
Documents required to register a Startup
Entity Information:
Characteristics of the Entity
Industry and Sector
Registration Date
Complete Address of the Entity
Information about the Authorized Representatives
Details of Directors or Partners
Additional Requirements:
Intellectual Property Rights Information
Funding Details
Recognition Achieved by the Entity
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