Startup India Scheme Registration

A Startup Company is a newly formed business with particular momentum behind it based on perceived demand for its product or service. The intention of a Startup is to grow rapidly as a result of offering something that addresses a particular market gap.

There are no fixed parameters on what type of company can be considered a startup, but the term most frequently applies to high-tech companies creating products that leverage technology to offer something new or to perform an existing task in a novel way.

There are no firm rules on when a startup ceases to be considered a startup. Some suggest a startup stops being one when it hits a certain size, completes its path to profitability, receives a high level of investment funds, becomes a public company or is acquired by a larger corporation.

Eligibility of Startup India Registration 

The start-up must be registered as a Private Company, LLP or Partnership Firm

  • It should be a new firm or not older than five years, and the total turnover of the company should be not exceeding 25 crores .
  • The firms should have obtained the approval from the Department of Industrial Policy and Promotion (DIPP).
  • To get approval from DIPP, the firm should be funded by an Incubation fund, Angel Fund or Private Equity Fund.
  • The firm should have obtained a patron guarantee from the Indian patent and Trademark Office.
  • It must have a recommendation letter by an incubation .
  • Capital gain is exempted from income tax under the startup India campaign.
  • The firm must provide innovative schemes or products.
  • The start-up must not be a product of re-structuring, The business must be involved in a new product or service.

Benefits of Startup India Registration 

  • Startups shall be allowed to be self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure.
  • In the case of labour laws, no inspections will be conducted for a period of 5 years. Startups may be inspected only on receipt of credible and verifiable complaint of violation, filed in writing and approved by at least one level senior to the inspecting officer.
  • In the case of environment laws, startups which fall under the ‘white category’ (as defined by the Central Pollution Control Board (CPCB)) would be able to self-certify compliance and only random checks would be carried out in such cases.

   Labour Laws:

  • The Building and Other Constructions Workers’ (Regulation of Employment & Conditions of Service) Act, 1996
  • The Inter-State Migrant Workmen (Regulation of Employment & Conditions of Service) Act, 1979
  • The Payment of Gratuity Act, 1972
  • The Contract Labour (Regulation and Abolition) Act, 1970
  • The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952   
  • The Employees’ State Insurance Act, 1948.

Environment Laws:

  • The Water (Prevention & Control of Pollution) Act, 1974
  • The Water (Prevention & Control of Pollution) Cess (Amendment) Act, 2003
  • The Air (Prevention & Control of Pollution) Act, 1981

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