Startup India: How To Register And What Are The Benefits After Registration

10 Mar Startup India: How To Register And What Are The Benefits After Registration

The Indian government launched the Startup India program on January 16, 2016.

The government of India’s launch of the Startup India program represents a turning point in the country’s overall development. The advantages of the Startup India initiative are numerous, and it has played an important role in the development of India’s entrepreneurial culture.

It’s a possibility for job creation, wealth creation, and the development of indigenous companies. The ultimate goal of the Startup India initiative is to instill a sense of inventiveness in budding entrepreneurs. The Startup India program was created to help the country create jobs and thrive economically. The government is attempting to encourage fresh concepts, science, and creativity through this effort.

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How to register

Step 1: Incorporate your company.

Step 2: After that, create your account with Startup India.

Step 3: Obtain DPIIT Certification

Step 4: Complete the application for recognition.

Step 5: Gather all of the necessary paperwork for registration.

Step 6: Obtain acknowledgment Number

Advantages of Startup India:

1.Tax Exemption

For the first three years, a startup operating under the Startup India program is exempt from paying any taxes. In addition, cash received from incubators and investment firms is excluded. The three-year tax-exempt status implies that a startup can invest the money however they choose and utilize it to expand their firm. In addition, the government offers some tax benefits on up-front investments that exceed fair market value.

However, they must be recognized by the Inter-Ministerial Board (IMB) to receive these benefits.

Startups that were formed on or after April 1, 2016, are eligible for an income tax exemption.

Self-Certification

Startups are more likely to fail in the early stages of their development. These entities were frequently faced with the challenge of maintaining their existence in the face of defeat.

However, thanks to the Startup India program, which provides them with protection against any such disruption by removing some stringent rules, they can weather the storm.

App for mobile devices

One of the major benefits of Startup India for generating companies is the ability to register using a single form. A Startup India mobile application can also be used to finish the registration process. The software contains a standard form that allows entrepreneurs to finish the registration process.

Options for Networking

Startup India is a program that allows startups to connect with some other startups at a certain place and time. These gatherings are held twice a year in the manner of a fair. These events are hosted both domestically and internationally.

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The Indian government has started the Startup India initiative to increase job creation in the country. It also promotes advancements by providing a foundation for new business concepts seeking funding to compete.