Start-up Certificate

Start-up Certificate

Start-up Certificate can be used for a variety of purposes, such as to access certain benefits or funding, or to qualify for certain programs or competitions.

START-UP RECOGNITION: HOW TO OBTAIN A START-UP CERTIFICATE

The term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Department of industrial Policy and Promotion, Ministry of Commerce and Industry”.

Documents required for Registration of startup–

  • Incorporation/Registration Certificate of your startup
  • Details of the Directors
  • Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
  • Patent and trademark details (if any)
  • PAN Number

Eligibility Criteria for Start-up Recognition:

The Start-up should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. An entity shall be considered as a start-up up to 10 years from the date of its incorporation.

Turnover should be less than INR 100 Crores in any of the previous financial years.

The Start-up should be working towards innovation/improvement of existing products, services and processes and should have the potential to generate employment/ create wealth. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Start-up”

80 IAC Tax exemption:

Post getting recognition a Start-up may apply for Tax exemption under section 80 IAC of the Income Tax Act. Post getting clearance for Tax exemption, the Start-up can avail tax holiday for 3 consecutive financial years out of its first ten years since incorporation.

Eligibility Criteria for applying for Income Tax exemption (80IAC):

a. The entity should be a recognized Start-up.

b. Only Private limited or a Limited Liability Partnership is eligible for Tax exemption under Section 80 IAC.

c. The Start-up should have been incorporated after 1st April, 2016. Start-up India: Tax Exemption under Section 56 of the Income Tax Act (Angel Tax)

Eligibility Criteria for Tax Exemption under Section 56 of the Income Tax Act:

a. The entity should be a DPIIT recognized Start-up.

b. Aggregate amount of paid-up share capital and share premium of the Start-up after the proposed issue of share, if any, does not exceed INR 25 Crore.

Benefits Of Start-up India Registration

1. Tax Exemption: Once your company gets Startup recognition, you can further apply for Income Tax Exemption benefits available u/s 80 IAC and u/s 56 for Angel Tax relief (Tax on Share Premium).

2. Tender Participation: In many Tenders, Govt. and PSU gives relaxation for Startups to Participation in public procurement job through tenders. Relaxation in Prior experience, EMD or Turnover criteria.

3. Govt. Funding Opportunity: Government allotted Rs 10,000 crores funds for investment into startups through Alternate Investment Funds. SIDBI is managing this fund. Startups can apply under this quota.

4. Participate in various Govt. Scheme: Government issues day to day various schemes for startup to participate. For example, sustainable finance scheme, bank credit facilitation, raw material assistance, etc.

Following are the Details/Requirements for start up Certificate
(A) Entity Details:  1. Certificate of Incorporation 2. PAN of Company

(B) Full Address:  Please Provide latest address of company.

(C) Authorised Representative details: Copy of KYC (PAN and Aadhar Card), Email ID & Mobile number

(D) Details of all Directors: Copy of KYC (PAN and Aadhar Card)

(E) Others Information requirements:

a) Basic Info:

1) Current Number of Employees

2) Kindly confirm (Ideation or Validation or Early Taction or Scaling)

F) Has your start-up applied for any IPR (Intellectual Property Right) ;- Yes /No

G) Is the start-up creating an innovative product / service / process or improving an existing product / service / process* :- Yes /No

H) Is the start-up creating a scalable business model with high potential of employment generation or wealth creation* :- Yes /No

I) Has your start-up received any funding?* Yes /No (If yes then provide proof of funding)

J). Start-up Activities

K) Any awards/recognition received by the entity* Yes /No (If yes please mention any awards/ recognition received by the entity)

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Rajesh Srivastava
Rajesh Srivastava
Startup CEO
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Great services and expertise. Highly recommended, Quick work and provided good support for the entire process. Made things very easier for us and I got my first ever Trademark for my product in just no time. I recommend their services to all the Startups for a hassle-free registration and other services. Again Thank You So Much Team Legal Suvidha... Good work...
Vijaya
Vijaya
Employee
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Excellent service and has been very timely in response. They are very patient too and guided us with the right steps even though we approached them with very few days left before the deadline. I highly recommend them to other startups who need legal advice and do all the paperwork at the year-end. And we would approach them for all our future requirements as well.
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Businessman
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We highly recommend them. Best in class services. Thank you for helping me through the process and for prompt replies. All the Best in your Endeavors. We highly recommend them. Best in class services. Thank you for helping me through the process and for prompt replies. All the Best in your Endeavors. I will surely consider them for future work.
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Legal Suvidha filed my GST, Income Tax Returns for my business Happy by their service. They are Excellent, cost effective, efficient, co-operative & Genuine service providers keep up the good work in the future. Thank you for shaping my business in the right direction. I would suggest others to take up their services they are better than other competitions present in the market.
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