Ever since the Startup India has been launched by the Central Government, one can easily notice a massive increase in the number of startups coming up.
However, they need to register themselves first. Indubitably, registering the startup isn’t a tough task. But, many of them don’t know how to register the Startup.
Hence, we have decided to guide you in the process of registering the startup step by step.
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Step 1: Fill up the form
The very first step towards registering the startup is the basic one, filling the form. Just fill in the necessary details. In other words, incorporate your business.
Step 2: Register
Now, you will need to register your company or firm as a startup in the Startup India scheme.
Step 3: Upload your documents in a PDF form
A very crucial thing to keep in mind is the file format of your document.
Documents you will need:
- A recommendation letter
- A letter of funding or a patent
Step 4: Mention tax exemption
Due to the Startup India, startups don’t have to pay income tax for the first 3 years.
But, to get the benefit of this tax exemption, startups need to certify themselves by the Inter-Ministerial Board or IMB.
Step 5: Self-certification
After following the steps till now, you will have to self certify your business. Further, agree to their conditions which are as followed:
- You are a Private limited company, an LLP, or a partnership firm.
- Your business must be incorporated or registered in India, not before 5 years.
- Your company’s turnover must not be more than Rs 100 crore.
- The company has to keep innovating something new or making the existing system better in its way.
- Your business must be a fresh idea and not a splitting up or reconstruction of an existing business.
Step 6: Recognition Number
After applying for the startup registration, you will get a recognition number.
The certificate of registration is provided when the authority has approved them.
Note: Be very careful while filling in the details. Any discrepancy can charge you a huge amount as a fine.
The above-mentioned are the steps for registering the startup. You can easily follow them and register yourself as a startup, to get certified by the government and use tax exemption under Startup India Scheme by the Central Government.
We hope you will find this guide helpful.