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What is a Startup License?
Under the Startup India initiative, those companies which meet the conditions as prescribed under G.S.R notification 127(E) are eligible to be recognized as a Startup by the Department for Promotion of Industry and Internal Trade (DPIIT). There are numerous tax concessions, exemptions and easier compliance mechanism currently in place for the startups.
Eligibility criteria for being recognized as a Startup:
- The startup should be a private limited company or a LLP or a registered partnership
- Turnover should be less than Rs. 100 Cr in any of the previous financial years
- An entity should be considered as a startup upto 10 years from the date of its incorporation
- The startup should be working towards innovation or for the improvement in existing products or services.
Documents Required for Startup License
- Company/ LLP PAN Card
- For Company- COI, MOA and AOA
- For LLP- Partnership Deed
- Description of business, industry type
- Number of employees
- Details of Directors (Name, Address, Phone Number, Mail ID)
How to register for Startup license in India
- Submission of documents
- Verification of documents
- Filing the Form with DPIIT
- On approval, Startup license
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