To Promote entrepreneurship to boost economy and increase employment , government of India Introduced Startup India Scheme, startup India Registration provides several benefits that has been provided to startups including tax holiday for period of 3 years to recognised startups.
To get recognised as startups , entity has to apply for recognition as startup on https://www.startupindia.gov.in/ , once application is submitted it is reviewed for “Department of Promotion of Industry and Internal Trade” (DPIIT) and if found eligible , the entity is registered as startup. Please note Income Tax Exemption on profits under Section 80-IAC of Income Tax Act is issued separately.
Meaning of “Startup”
An entity shall be considered as a Startup:
Upto a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees.
Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
Provided that an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Startup’.
Explanation: An entity shall cease to be a Startup on completion of ten years from the date of its incorporation/ registration or if its turnover for any previous year exceeds one hundred crore rupees.
Government Schemes & Benefits after startup india registration
Self Compliance under 3 environment and 6 labour laws
Income tax Exemption
Reduced Filing fee for Trademark
Reduced fee for Patent application
Easier Public Procurement norms
Easy Winding up
Reduced Compliance under Companies Act
Other Schemes launched by Government time to time
Following information are required for Startup India registration :
Name of Company
Name of Startup
Website address of Company
Name , age qualification of Directors and Promoter / Authorized Representative
Current Number of Employees including Founders
Trademark or other IP details
Is the startup creating an innovative product / service / process or improving an existing product / service / process ?
Is the startup creating a scalable business model with high potential of employment generation or wealth creation ?
Brief note supporting the options chosen above for innovation, improvement and scalability
Has your startup received any funding?
Any awards/recognition received by the entity , if yes , provide document in support
What is the problem the startup is solving ? 150 to 200 words minimum
How does your startup propose to solve this problem? 150 to 200 words minimum
What is the uniqueness of your solution ? 150 to 200 words minimum
How does your startup generate revenue? 150 to 200 words minimum
App Link /Pitch Deck etc if any
COI , MOA and AOA of Company
PAN of Company
Fastlegal Provides help in filing your Startup India Registration application , Place your request below to get in touch with our team members
Starting an online course is one of the most popular thing that people are doing on internet these days.
Under the online course you provide video course on some of the important topics like digital marketing, Facebook ads Android app development web development affiliate marketing legal courses and many other topics.
Starting your own online course needs some efforts for development of website, marketing campaigns, payment gateways and a business that provides a bank account in the name of your company and your video courses.
Step by step procedure for development of online course
Getting getting full knowledge of the topic for which you want to make an video course
Making making making videos for every topic that you want to cover in the online course
Buying a domain name that suits your course
Buying an hosting for hosting your website
Development development of website with WordPress.org
Getting getting the perfect theme for your online course under WordPress
Installing plugin for online course on WordPress
Uploading the course contents
Uploading the video course according to contents
Setting up payment gateway
Legal registration of your business
Bank account for your business
Link payment gateway with your bank account
Startmarketing your courses online on Facebook Twitter WhatsApp Instagram Google and other blogs
Having viable business Idea: Entrepreneurs are the people who take the innovation ahead, having business idea is essential to the startup journey and the idea should be such that it is possible to make it viable in the current market. Entrepreneurs may take survey from potential customers.
Having a Good Website: As everything is now internet based, a good website is something where you can start off. Start by creating website, a website must have blog and social media presence to describe the products and services to visitors through contents.
Registration as private limited company: This is essential if you want to go big, private limited company is different legal person from the founders. Founders starts working under legal entity and all the accounts of the business are separately managed. You need payment gateways and other things for which a registered business is essential legal requirement.
Founders Agreement: Yes, this is must, your new project must be having co-founder; let say one for tech and other for operations, one for capital and other for tech etc… founders shares equity ownership and control in the registered business entity.Through founders agreement they divide their roles and responsibilities in startup, this can be through oral mean but a written agreement clearly defines roles of founders in the startup.
Business Operation : Yes Start Doing the Entrepreneur hard work, Do not stop , get your first customer , second third ….so on.. Create better pricing plans. Provide services or sell products raise invoice invoices and invoices. Create systems at every stage.
Sales Tax , Services Tax and Trademark : Now if you have stated making some revenue , don’t wait take services tax registration, if you are providing services or sales tax registration (TIN) if selling products. Apply for trademark ( Check for availability of trademark is essential before launching your startup , search it trough www.ipindia.gov.in ) Applying trademark will protect you from infringement of your mark and you can take legal ready against the person making infringement of your mark.
SALE SALE SALE : Nothing more focus on generating revenue, revenue.. have proper accounts and fun..
Business Legal Compliances (Take it seriously ) : Nothing much file Company Annual Accounts, Annual Returns , Income Tax Returns, TDS returns sales and services tax returns. Yes this should be done on timely basis; otherwise you will be facing lots of additional fee and penalties. Compliance Management System is Essential is necessary for every business entity to survive.
Don’t Mind Cost of Compliance: Yes, Compliance is essential part if you want to grow your business, Not only business that are fully legally complied have big brand images but also have big competitive advantage over others.
For Registration of an Entity under Startup India recommendation letter is required to be attached while submitting the registration form , this nature of recommendation with regard to startup may be obtained from any incubator established in post-graduate college in India.
Following are the incubators from which recommendation letter can be obtained with regard to innovative nature of business :
Association for Innovation Development of Entrepreneurship in Agriculture (AIDEA)
IKP Knowledge Park – Life Science Incubator (www.ikpknowledgepark.com)
Agri Business Incubator (http://www.agrisciencepark.icrisat.com)
Technology Business Incubator – UOH (www.uohyd.ernet.in)
International Institute of Information Technology (IIIT – H)
Birla Institute of technology and Science, BITS- Pilani (Hyderabad Campus)
Technology Base Incubator Society (TBIS) (udsctbi.org
Shriram Institute for Industrial Research (A Unit of Shriram Scientific and Industrial Research Foundation) (www.shriraminstitu te.org)
IAN Mentoring and Incubation Services (www.IndianAngel Network.com/incubator)
National Design Business Incubator (NDBI) (http://www.ndbiindi a.org)
CIIIE Initiatives, Centre for Innovation, Incubation and Entrepreneurship (CIIE) (www.ciieindia.org)
Gujarat Foundation for Entrepreneurial Excellence (GFEE – iCreate)
Venture Studio: Center for Innovative Business Design
Centre for Incubation and Business Acceleration (CIBA)
Society for Innovation and Entrepreneurship in Dairying (www.ndritbi.com)
Shri Mata Vaishno Devi University Technology Business Incubation Center Society (SMVDU TBIC)
TBI – International Centre for Innovation, Technology Transfer and Entrepreneurship (IN-CITE)
Composites Technology Park (www.compositeste chnologypark.com)
E-Health TBI (www.ehealthtbi.co m)
Manipal University Technology Business Incubator (www.mutbimanipal .org)
Global Incubation Services (GINSERV) (www.ginserv.in)
National Design Business Incubator (www.ndbiindia.org /www.nid.edu)