INTRODUCTION

Startup India scheme is an initiative by government of India which aims to support entrepreneurs and create jobs via G2B Portal. This government to business (G2B) Portal is a platform where online applications are filed for access to number of government to business services. The importance of the scheme was to form a strong system for encouraging innovation in the country.

This initiative of identifying and encouraging the startups are taken by our government of India. This has been done in consonance with the Make in India Campaign. By getting registration under DPIIT, the startup will get benefit of self-certification and compliance under 9 environmental & labour laws. If the entity wishes to wind up the company they can do so under 90 days under Insolvency & Bankruptcy Code 2016. Further there are multiple exemptions and/or rebates available such as:

• Tax exemption on capital gains & on investments above fair market value.
• Exemption from requirement of earnest money deposit in government tenders.
• Income tax exemption for a period of 3 consecutive years
• In case of patent and trademark filing there is rebate of fee upto predefined limit.

Further while applying for government tenders, the requirement of minimum capital or turnover or experience has to be fulfilled by the entity as specified. But if the business entity is recognised as Start-up by DPIIT then, such entities can apply for tenders as specified even if they don’t fulfil such requirements of minimum capital, turnover etc.

Conditions required to be fulfilled for getting registration under DPIIT

• It should not be older than ten years from the date of incorporation.
• It should be incorporated either as a private limited company or a registered partnership firm or a limited liability partnership.
• Since incorporation, yearly turnover should not surpass Rs. 100 crore for any of the financial years.
• It should not have been formed by splitting up or reconstruction of already established business. New entity must be formed.
• It should have innovative business, development or improvement of products or processes or services, or it should be generating employment and creating the wealth for the economy.

Benefits and rewards of the registration

• First and foremost is the tax exemption which any recognised startup can claim.
• There will be lot of income tax benefits for the period of three years.
• Save the money as well as time
• Investment exemptions can be availed.
• Concessions on all the capital gains can be availed.
• Fund by the government to help the startups.
• Self-certification and no inspection for three years.

Dpiit Startup Registration Process in India

Neusource Startup minds India limited is India’s largest business service platform devoted to helping business person easily establish and expand their business with a reasonable cost. We found in October 2020 with the purpose of creating it easier for tycoons to establish their business. We at Neusource Startup minds India limited proposes the Dpiit registration for your startups. The department for Promotion of Industry and Internal Trade - Dpiit is authorized to organize execution of startup India initiative with more government department. There are other five more government department apart from Dpiit startup, sanctioned to arrange implementation of Startup India initiative namely DST, DBT, MHRD, MCA and NITI Aayog.

We are one of the best Dpiit startup registration providing company in Delhi/NCR Region offering Dpiit registration at very decent cost. We are assisting Dpiit startup since most of the startup companies are concentrate on revenues generation and increasing income by their own hard works and by applying different methods which is a good thing. They didn’t focus in reducing cost. So we are here with proper guidance to Dpiit startup registration for saving this cost for three years and retaining 30 % of our income in form of tax which lead to maximized cost.

Benifits of Dpiit Startup Registration in India

Dpiit government to business Platform is providing access to a number of Gov to business service like filling of Industrial Entrepreneurs Memorandum and Industrial License application online. Company meets eligibility criteria can get recognized as startups by Dpiit, for the purpose of access a host of tax benefits, IPR fast-tracking, simplier compliance, and more. Dpiit Startup registration forms a promising narrative of the government to support the entrepreneurial ecosystem, providing jobs, innovations and latest technologies. A Dpiit registered startup is permissible to self- certify their compliance under six labour laws and three environmental laws for a period of five years from the date of incorporation of the entity.

Dpiit startup registration eligible for those startups registered as a private limited, partnership firm or LLP having the date of registration not be more than 10 years, should have an annual turnover not more than Rs. 100 crores since its incorporation. After Dpiit startups registration Government sanctioned authorities support startups to grow their business under their proper guidance and having fully access to Dpiit Government to business portal for their products and services. Government sanctioned authorities like Ministry of human and research development help startups to grow their business and government saving 30% taxto increase income by cutting cost technique.

For promoting growth and help Indian economy, Department of Promotion of industry and internal trade –Dpiit views startups having not more than 10 years of its incorporation can eligible for Dpiit registration and Neusource Startup mind India limited are providing Dpiit startup registration services in Delhi and NCR regions. We also have our other company branches operated in Lucknow, Mumbai and Hyderabad providing Dpiit startup Registration services.