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KEY BENEFITS OF THE

STARTUP INDIA INITIATIVE


1. Tax Exemptions for Startups

  • 3-Year Income Tax Holiday: Startups can enjoy a tax exemption on profits for three consecutive years within their first ten years of incorporation.
  • Capital Gains Exemption: Investment in specified funds is exempt from capital gains tax.

2. Simplified Compliance

  • Self-certification and compliance under labor and environmental laws for the first five years.
  • Faster processing of patent applications with an 80% reduction in patent filing fees.

3. Startup India Fund of Funds (FFS)

The Government has allocated ₹10,000 crores under the Fund of Funds for Startups to support startups with seed and early-stage funding.

4. Easy Access to Networking Opportunities

  • Access to a Startup India portal that connects entrepreneurs with investors, mentors, and other startups.
  • Exclusive participation in national and international startup events.

5. Faster Company Incorporation

Startups can register with the Ministry of Corporate Affairs (MCA) using simplified procedures, reducing time and effort.

6. Intellectual Property (IP) Support

  • Startups can avail fast-tracked patent application processes with reduced costs.
  • Expert guidance on trademarks, copyrights, and patents.

7. Credit Guarantee Scheme

Startups can access collateral-free loans under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), ensuring financial support even without assets to pledge.

8. Easy Exit Options

In case of business failure, startups can opt for fast-track exits under the Insolvency and Bankruptcy Code (IBC), ensuring entrepreneurs can focus on their next venture.




Eligibility for Startup India Recognition



How to Start a Business Under Startup India: A Step-by-Step Guide

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Step 1: Develop Your Business Idea
  • Identify a problem or gap in the market and develop an innovative product or service to address it.
  • Conduct thorough market research to validate your idea and identify your target audience.
  • Create a business plan outlining your objectives, revenue model, marketing strategy, and growth projections.
Step 2: Choose a Business Structure
  • Select the most appropriate legal structure for your startup. Common options include:
  • Private Limited Company (Pvt Ltd)
  • Limited Liability Partnership (LLP)
  • Partnership Firm

Your choice will depend on factors like ownership, liability, and fundraising potential.

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Step 3: Register Your Business
  • Incorporate Your Business: Register your startup with the Ministry of Corporate Affairs (MCA) by filing for incorporation and obtaining your Certificate of Incorporation (COI).
  • Apply for PAN and TAN: A Permanent Account Number (PAN) is mandatory for tax filings, and a Tax Deduction and Collection Account Number (TAN) is required for deducting taxes.
  • Register for GST: If your startup has an annual turnover above the GST threshold, register for the Goods and Services Tax (GST).
Step 4: Apply for Startup India Recognition
  • Log in to the Startup India Portal: Visit startupindia.gov.in. Create an account or log in with your credentials.
  • Fill in the Recognition Form: Provide details about your startup, including its nature, industry, and innovative elements. Upload necessary documents, such as the Certificate of Incorporation and a brief write-up about your business.
  • Submit the Application: After completing the form, submit it for DPIIT recognition. Once approved, you will receive a Startup India Recognition Certificate.
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Step 5: Leverage the Benefits of Startup India
  • Tax Benefits: Apply for the Income Tax Exemption under Section 80-IAC. Avail exemption on Long-Term Capital Gains (LTCG).
  • Startup India Fund of Funds: Secure seed funding or early-stage capital through the Fund of Funds for Startups (FFS).
  • IPR Benefits: Use the Startup India IPR Scheme for fast-tracked patent, trademark, and copyright filings with an 80% fee reduction.
  • Networking Opportunities: Participate in Startup India-hosted events to connect with investors, mentors, and other startups.
Step 6: Comply with Legal and Regulatory Requirements
  • Maintain Records: Keep detailed records of financial transactions, employee salaries, and other business operations.
  • File Annual Returns: File annual returns with the MCA and ensure GST compliance.
  • Labor and Environmental Laws: Self-certify compliance under relevant labor and environmental laws for the first five years.
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Step 7: Focus on Business Growth
  • Marketing: Develop a strong digital presence through websites, social media, and online advertising.
  • Fundraising: Prepare a pitch deck and reach out to angel investors, venture capitalists, or crowdfunding platforms.
  • Scale Operations: Expand your team, streamline processes, and explore global markets using Startup India’s international partnerships.


Documents Required to Start a Business Under Startup India

  • Certificate of Incorporation (from MCA)
  • PAN Card of the business
  • Aadhaar or other ID proof of the founders
  • A write-up explaining the business innovation
  • Bank account details
  • Proof of business address (electricity bill, rent agreement, etc.)
How Accountant’s Factory LLP Can Help

STARTUP INDIA REGISTRATION

Starting a business under the Startup India program can feel overwhelming, but you don’t have to do it alone. Accountant’s Factory LLP offers end-to-end support, including:

  • 1. Incorporation and Registration: We assist startups with incorporation, registration, and obtaining necessary licenses and permits.
  • 2. Startup India Recognition: Assistance with DPIIT application and certification.
  • 3. Accounting and Bookkeeping: Our team provides accounting and bookkeeping services, including financial statement preparation, budgeting, and forecasting.
  • 4. Tax Planning and Compliance: We help startups navigate the complex world of taxes, ensuring compliance with all tax laws and regulations.
  • 5. Financial Modeling and Projections: Our experts create financial models and projections to help startups secure funding, make informed decisions, and measure progress.
  • 6. Funding and Investor Support: We assist startups in preparing pitch decks, financial projections, and other materials necessary to secure funding from investors.
  • 7. Compliance and Regulatory Services: Our team ensures that startups comply with all relevant laws and regulations, including labor laws, intellectual property laws, and more.
  • 8. HR and Payroll Services: We provide startups with HR and payroll services, including employee onboarding, benefits administration, and payroll processing.
  • 9. Strategic Business Consulting: Our team of experts provides business consulting services to help you make informed decisions. We offer valuable insights into your market, competition, and industry trends, helping you develop strategies to accelerate your growth and drive profitability.

Kickstart Your Startup Journey Today!
India is a land of opportunities, and the Startup India initiative is here to help you seize them. Let Accountant’s Factory LLP be your trusted partner as you embark on this exciting journey.

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