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Start Up Recognition Registration

Under the Start up India Action Plan, start ups that meet the definition as prescribed under G.S.R. notification 127 (E) are eligible to apply for recognition under the program. The Start ups have to provide support documents, at the time of application.

Steps to form a Start Up Recognition Registration

Incorporate
your Business
Register with Start-up India and documents to be uploaded
Certify that you satisfy the following condition
Immediately get recognition number

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Procedure

Eligibility Criteria for Start-up Recognition:

  1. The Start-up should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership.
  2. Turnover should be less than INR 100 Crores in any of the previous financial years.
  3. An entity shall be considered as a start-up up to 10 years from the date of its incorporation.
  4. 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 re-construction of an existing business shall not be considered a "Start up".

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 to Income Tax exemption (80IAC):

  1. The entity should be a recognized Start-up .
  2. Only Private limited or a Limited Liability Partnership is eligible for Tax exemption under Section 80 IAC.
  3. The Start-up should have been incorporated after 1st April, 2016.

Documents

  • A letter of Recommendation must be submitted along with Registration Form
  • Registration Certificate
  • Start ups are exempted from income tax for 3 years. But to avail these benefits, they must be certified by the Inter-Ministerial Board (IMB).
  • Self Certify that you satisfy the following condition
  • You must register your new company as a Private Limited Company, Partnership firm or a Limited Liability Partnership
  • Your business must be incorporated/registered in India, not before 5 years.
  • Turnover must be less than 25 crores per year.
  • Innovation is a must– the business must be working towards innovating something new or significantly improving the existing used technology.
  • Your business must not be as a result of splitting up or reconstruction of an existing business.
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