Home How to Register your Startup Under The Startup Scheme How to Register your Startup Under The Startup Scheme

How to Register your Startup Under The Startup Scheme

July 26, 2019

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How to Register your Startup Under The Startup Scheme

INTRODUCTION

Two years back in the month of January, Our Prime Minister Narendra Modi has incredibly started the Startup India. A startup is a newly established business, usually small, started by 1 or a group of individuals. What differentiates it from other new businesses is that a startup offers a new product or service that is not being given elsewhere in the same way. It is an entity which is incorporated, registered in India. It should be 7 years from incorporation. It shall have annual turnover not exceeding 25 crores for last 5 Financial years. Lastly, the entity should be dedicated to work towards innovation, creativity, development, deployment, launching new products, improvement of services, products or processes driven by intellectual property. According to the DIPP definition, under the startup India action plan an entity is said to be startup if it.

So now as we are aware of the definition of startup, welcome to next question that is how can we register it?

HOW TO REGISTER THE STARTUP?

Now there are certain steps which has to be followed regarding the register of startup. as follows:

Your Business Should be Incorporated – Incorporation means that your business should be in existence. The person should keep in mind that his Startup must be in existence because then only it can be registered. It shall comply with all the legal formalities to get incorporated.

So the first step is to get incorporated as Private limited company/ partnership firm/ Sole proprietorship firm/ and/ or Limited liablity Partnership firm. It is very essential step in registering a startup.

Register it with Startup India Scheme – When a new business is started it is said to be startup for the coming seven years after incorporation. To register it, you have to go through a link (www.startupindia.gov.in), it is a simple process. Then fill all the essential requirements i.e. required to register your startup under the scheme. To avail the benefits of government schemes, one must register itself as startup.
It should be kept in mind that a person should be cautious that all the documents must be uploaded in the PDF format.

NOW WHAT DOCUMENTS ARE REQUIRED FOR STARTUP REGISTRATION PROCESS ?

The following documents are required for Startup registration process. They are:-

A letter of Recommendation – A letter of recommendation is a necessary tool in registering your entity. It should be given by a authorized person to check whether you have got a recommendation letter from the person required, go to the link (www.startupindia.gov.in). If it is correct then do register yourself and if not, then get the recommendation letter from the recognized person mentioned in the link.
A certificate of Incorporation or registration – A issue of certificate of incorporation means that your entity is been successfully been registered under the Startup India scheme. Incorporation certificate defines the legal existence of the company or entity.
Specification of your Business in brief – It means that you have to specify your business in a concise way, so that a Government of India can understand what type of business you want to operate and the amount of fund you required.
Mention that whether you want to utilize the benefits of Tax Benefit – While filling the registration form you have to mention that whether you want to avail the benefits of the tax or not.

Your documents should be self-attested as given in the link above and that your documents should not be obtain by fraud, cheating and misrepresentation.

Now you will get recognition number which means that your documents have been carefully scanned.

THE BENEFITS WHICH YOU WILL GET IF YOUR STARTUP IS REGISTERD