The scheme is operating under the Department for Promotion of Industry & Internal Trade. The prime Idea of the scheme is to build new innovative startups, grow the Development of employment scale, Help the economy of the country boost, generate Financial Support, Income Tax benefits like tax exemption, DPIIT certification.
All the benefits are being availed by all the startups under various sectors such as health, education, business, agriculture, etc. There is a list of various government sector's critical role in the success of the scheme as:-
- NIIT Aayog
- Ministry of Human Resource Development. (MHRD)
- Ministry of Labour & Employment and Ministry of Corporate Affairs(MCA)
- Department Of Biotechnology (DBT)
- Department of Science & Technology (DST)
Startup India Registration In Amritsar
Startup India Registration can be a pivotal scheme in the largest city of Punjab Amritsar. Moreover, the city has emerged in last few years in terms of entrepreneurship, Innovation, and Startup Culture. The city's economy is rooted in the agriculture, trade & tourism sectors. The startup innovation revolves around tourism, hospitality, travel & food sector.
The Startup growing in the city can receive in all the benefits under the Startup India registration as the city creates a unique canvas for new startup growth. The business opportunity in Amritsar is a prime reason for new startups to register under the Startup India registration process. And this scheme provides all the needed growth parameters like tax exemption, DPIIT certifications & validation from the government.
Benefits of the Startup India Registration
- Easy Process - The government has given way through online registration process under Startup India Registration. The method of form submission is supported by document submission.
- Cost reduction - The government facilitators of patents & trademarks are provided under the government-provided list. This process gives Intellectual Property Right Services, fast examination process at lower rates.
- Easy access to Funds- The government provides a fund of 10,000 crore to startups with a guarantee to enable banks & other economic organizations.
- Tax Exemption - The startups registered under Startup India Registration will be free from Income tax for 3 financial years.
- Tender Application - The strategy registered under Startup India Registration can apply for Government tenders. Also, they are free from Turnover criteria.
- R&D facilities - By the government of India, 7 new research-related Facilities are being provided to the Startups registered for research & development.
- Time-Saving Process - The Process has created such a pattern that it saves time & money for the startups under the registered category. Startups can acquire self-certification with 9 labor & 3 environmental laws as well.
- Tax savings ways for Investors - The investors or grants providing get an Exemption from Economic profits. This benefit helps the straps to attract more investors.
- Investor Selections- After the full plan approval the startup get an opportunity to select from different venture capitals, this gives flexibility to choose investors.
- Exit Plan - The start-ups get 90 day time period for the process of closing their business from the date of application.
- DPIIT Certification- The startups registered under the Startup India Registration process receive DPIIT recognition.
Process of Registration under The Startup India Reservation
1. Incorporate your business entity- To incorporate the Startup business under a PIC, LLP, or Registered Partnership Firm.
2. Register with DPIIT - Using Name, Contact Details, Email ID, and other needed details the Startups can create their Profile with government portals.
3. Register with NSWS- After the successful completion for the process of ID creation, The startups can register for DPIIT Recognition. Further, they can register for Company type.
4. Form Filling - The startup needs to fill in the details such as Entity details, Official address, Authorized Representative details, Director & partner details, Other Information Required, and Self-certification for it.
5. Recognition Number - After the submission of the form, the startup receives a recognition number immediately after the submission.
6. Documentation required
- A copy of Registration certificate by the government under DPIIT
- Appointment letter of Registered authorized agent as LLP or Partnership firm
- PAN Details of the Authorized Startup Representative
- If the startup was granted any funds then its certification is required.
- A business plan of the startup idea, with highlighted mentions of the innovative ideas, improvement measures toward the society, the product & services * measures taken for the process of employment generation
- Patent & trademark details are required to submit.
- List of awards, certifications, or recognitions received.
Reasons to choose StartupFlora for Your process of Registration under Startup India Registration Process.
Our company has a promising identity in our clients for helping them build their business from a mere startup idea to a successful reality. With our High tech-driven and continuous growth mechanism we work forward to help our clients in all the best possible manners we can.
- Expert Guidance - Our team of experts are fully aware about the new trends & developments in the startup arena & with that we help our clients will all the needed professional advice
- Customized Solutions- StartupFlora knows the needs & requirements of different businesses, The startups needs a tailored solutions to all the unique problems & we as a company outperform ourselves to create such solutions.
- Documentation Process- As mentioned we are ruling the pattern of helping our clients with the process of startup India Registration. That has made us perfect & thorough in the process of documentation.
- Fast Approval - when the full process is moving with expert guidance from us, which saves the time of resubmissions. Making the process smooth & fast.
- DPIIT Recognition - We guide our clients to their final goal of DPIIT certification. And after that, our clients can receive benefits such as Tax Exemption & various government grants.
FAQ
What is Startup India Registration?
Startup India Registration is a government initiative that provides benefits like tax exemptions, funding, and support for startups in India.
How can I register a startup in Amritsar?
You can register your startup by applying through the Startup India portal and obtaining a DPIIT Certificate.
What are the benefits of Startup India Registration in Amritsar?
Benefits include tax exemptions, funding opportunities, and access to government programs and incubators.
Who is eligible for Startup India Registration?
Any innovative business with a turnover under ₹100 crore can apply.
Can I get funding after registering?
Yes, registered startups may be eligible for government grants and funding programs.