Online Legal Registration Procedure for your New Business with Startup India Stand Up India initiatives. Startup India Scheme Details | Startup India Procedure | Startup India Registration Process

1. P R E S E N T E D B Y
M Y O N L I N E C A
( O N D E M A N D L E G A L S E R V I C E S I N I N D I A )
W E B S I T E : - W W W . M Y O N L I N E C A . I N
E M A I L : - M A I L @ M Y O N L I N E C A . I N
D O W N L O A D A P P F R O M P L A Y S T O R E
“ M Y O N L I N E C A ”
How to Register your Business
with Modi’s Startup India

2. Startup India Definition
First of all we have to understand about Govt Startup
Definition.
Any Legal entity will be identified as a startup.
 Till up to five years from the date of
incorporation.
 If its turnover does not exceed 25 crores in the last
five financial years.
 It is working towards innovation, development,
deployment, and commercialisation of new
products, processes, or services driven by
technology or intellectual property.

3. Which Legal Entity is Eligible for Startup India
 The entity is registered under Companies Act, 2013
 It is registered under section 59 of Partnership Act,
1932, as a partnership firm
 Or registered under Limited Liability Partnership
Act, 2002, as a limited liability partnership
Note :- Means Sole Proprietorship Firm are not
under the Startup India Scheme.

4. What is Inter Ministerial Board
In order to obtain tax benefits, one has to obtain a
certificate from the Inter-Ministerial Board of
certification. The board consists of the following:
 Joint Secretary, Department of Industrial
Policy and Promotion.
 Representative of Department of Science and
Technology.
 Representative of Department of
Biotechnology.

5. How to Register with Startup India Scheme
 In the official notification which is issued by the govt
in that said startups have first of all register their
business as Legal entity as Private limited company,
Limited Liability Partnership or Partnership Firm,
then they have to register through a mobile app
which is not yet launch or through the portal
of DIPP(Department of Industrial Policy and
Promotion)

6. Documents Required for Startup India
We have to Submit Application along with any Below Documents :-
 A recommendation in a format specified by DIPP from an incubator
established in a post-graduate college in the country.
 A letter of support from any central or state government funded incubator
to promote innovation.
 A recommendation in a format specified by DIPP (with regard to
innovative nature of business) from any incubator recognized by the
Central Government.
 A letter of funding of not less than 20 per cent in equity by any incubation
or angel fund/PE fund/accelerator or angel network duly registered with
Securities and Exchange Board of India that endorses its innovative
nature of business.
 A letter of funding by the Central or State government as part of any
scheme to promote innovation.
 A patent filed and published in the Journal by the Indian Patent Office in
areas affiliated with the nature of business being promoted.

7. Benefits of the Startup India
 Start-ups will be exempted from paying income tax on
their income for the first 3 years
 80% rebate on filing a patent application.
 Fast track mechanism for patent applications
 Exemption of tax on capital gain. When person invests its
own wealth, then they will get exemption from capital
gains tax.
 Mobile app will be launched on April 01, 2016 which will
enable start-ups to get registered within a day. The app
will have a small application form for registration.
 Web portal will be launched on April 01, 2016 for
clearances, approvals, and registrations
Cont..

8. Benefits of the Startup India
 Compliance regime based on self-certification
 No inspection for 3 years of start-up businesses in respect of
labour, environment law compliance post self-certification
 Easier norms for start-ups to exit within 90 days. Bill will be
introduced in the parliament.
 Relaxed norms of public procurement for start-ups. There
would be no requirement of turnover or experience.
 Government will setup a fund with an initial corpus of Rs. 2,
500 crore and total corpus of Rs. 10, 000 crore over a period
of 4 years
 A hub for startup India will be started with single point of
contact.

9. Difficulties/Road blocks
 As per Definition Startup should be working towards
Innovation, Development and Deployment or
Commercialisation of New Products, Processes or
Services driven by Technology or Intellectual
Property. (Here lies the thrust to convince the Govt
officials/Incubation centres (Specially govt
recognised or operated)/Govt Departments etc
which may involve lot of complications/issues which
the time will tell)

10. Difficulties/Road blocks
 Start up must aim to develop and commercialise either New
Product/Services/Process OR significant improvement in existing
products or services or processes in the current market which would
create further value or add value to customers or workflow, thus
companies with similar line of business already there in market
place will not get any benefits unless major differentiation is done in
Process/product or service.
For example recently OYO Rooms started with Unique model of
business by young entrepreneur with the use of technology, another
firm called ZO rooms was also following with same model, thus going
by definition the ZO Rooms will not be falling within NEW
product/services unless there is process or technological differentiater
is seen and made the govt official convinced about the same (which
would be challenging task)

11. Difficulties/Road blocks
It should not be by way of Splitting up, reconstruction
of existing business.
 Thus company which is into Product Licensing
business and venturing into customised product
offering on website/retail/wholesale basis to expand
licensing business, same would be treated as
expansion of existing business and would not be
considered as startup as defined by Govt.

12. Difficulties/Road blocks
 Certification from DIPP or setup body for validation
of Innovative nature of the business to be obtained.
Nothing is to be elaborated on this point as we all
know how difficult it is (at the time of STARTUP of
the business as an entrepreneur) to deal with Govt.
This may involve additional time or effort or people
effort who can deal with Govt and drag their focus
from Innovation, doing business to liason with Govt
officials/organisations.

13. Helpful Resource for Startup India
 Business Registration in India Online –
MyOnlineCA - Startup Friendly Online Legal Services
Portal which is trusted by more than 300+ India’s
Promising Startup.
Website :- www.myonlineca.in
 Solve your Startup India Queries :-
MyOnlineCA Legal Chat App :- Download From
Playstore “ MyOnlineCA” and connect with Legal Expert.
 Startup India Details Procedure and Scheme Details
Legal Adda :- Great Legal Knowledgebase for the
Enterpnuers.
Website :- legaladda.myonlineca.in