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Entities incorporated under the Companies Act, 2013 as a private limited company or registered as a partnership firm under section 59 of the Partnership Act, 1932 or a limited liability partnership under the Limited Liability Partnership Act, 2008 in India are regarded as start-ups ten years from their incorporation.
Compliance means that a company adheres to the applicable rules and laws. This includes both country specific laws and requirements from the regulatory authorities as well as internal company directives. A range of tools and process can be implemented and used by a company to bring about good compliance.
DPIIT Recognition. Under the Startup India initiative, eligible companies can get recognised as Startups by DPIIT, in order to access a host of tax benefits, easier compliance, IPR fast-tracking & more.
Book Free Consultancy »Step 1: Incorporation of the Startup: This is the first step in which the startup is required to incorporate itself as a private limited company or a partnership firm or a limited liability partnership. A startup founder, may incorporate his startup by approaching the Registrar of Companies, if he wants incorporate a private limited company or a LLP or by approaching the Registrar of firms, if he wants to incorporate a partnership firm.
Step 2: Registration with Start-up India: Under this stage, a startup is required to mandatory register itself as a start-up on the start-up India website.
Step 3: DPIIT Recognition: After the creation of a profile on the Start-up India website, the start-up is required to obtain a certificate of recognition from the Department for Promotion of Industry and Internal Trade (DPIIT).
Step 4: Recognition Application: On the Recognition Application form (provided on the Start-up India website), a start-up is required to fill in the details such as the entity details, full address (office), authorized representative details, directors/partner details, information required, start-up activities and self-certification.
Step 5: Submit Documents for Business Registration
Upon completion of the above steps, the startup is registered and is allotted a unique recognition number.
