DPIIT Registration: Get Your Business Registered Quickly & Easily
This article is about the DPIIT Registration Certificate for Recognition of Startups that DPIIT gives out in Mumbai, Maharashtra (The full form of DPIIT is Department for Promotion of Industry and Internal Trade). Before, the Department of Industrial Policy and Promotion (DIPP) was renamed the Department for Promotion of Industry and Internal Trade (DPIIT) in order to focus on developing <a href="https://setupfilings.com/learn/how-to-choose-the-best-business-structure-for-your-startup/" title="How to Choose the Best Business Structure for your Startup“>New businesses and making it easier for companies to do business. The articles will talk about the benefits of registering with DPIIT in Mumbai, Maharashtra, as well as the income tax rules, time, criteria, and documents needed for a DPIIT certificate in India.
Over the past ten years, the number of Startups in Mumbai, Maharashtra, has grown. People from all walks of life want to start their own business, from college students to people who quit their jobs. In Mumbai, Maharashtra, startups have created a lot of jobs in the last ten years.
What is a Startup?
A startup is a small business that was started in Mumbai, Maharashtra, with the goal of making a service or product that solves a problem. LLPs and small businesses that are funded by an individual or promoters are also considered Startups.
Startup India in Mumbai, Maharashtra- An effort by the government to help new businesses
Startup India Scheme is an initiative of the Government of India. It was started on January 16, 2016, by Prime Minister Shri. Narendra Modi. Its goal is to encourage new businesses, which will lead to more jobs and growth for everyone. The main goal of this Scheme, called “Startup India,” is still to help businesses grow and spread new ideas in Mumbai, Maharashtra.
According to Startup India, a startup is a business that is either brand new or has been around for less than 10 years. When it comes to getting registered as a startup, the number of years in business is important. Biotechnology companies have a 10-year limit, while all other businesses have a 7-year limit.
DPIIT registration certificate to be recognized as a startup in Mumbai, Maharashtra, India
Under the government’s Startup India program, the Department for Promotion of Industry and Internal Trade helps startups get the benefits of self-certification and compliance with 9 environmental and labor laws. Startups that are recognized by DIPP can also get benefits related to Intellectual Property Rights, like the IPR fast track, without needing to get any other license from the Inter-Ministerial Board. Under the Insolvency and Bankruptcy Code 2016, the company can also close down if it wants to be out of business in less than 90 days. But getting recognized as a Startup by DPIIT has a lot of other benefits, which are also talked about in this article, along with how to do it and who can do it.
The benefits of getting a DPIIT registration certificate to be recognized as a startup company in Mumbai, Maharashtra, India
Once a startup in Mumbai, Maharashtra, has the DPIIT Certificate of Recognition for Startups, it can get the following benefits.
1. Self-Certification: Once you have the DPIIT Certificate of Recognition for Startups, your company can self-certify compliance with 6 Labor Laws and 3 Environmental Laws.
2. Tax breaks: Startups that are recognized by DPIIT can get a lot of tax breaks. Startups can apply for a tax break under Section 80 IAC of the Income Tax Act once they have the Certificate of Recognition. Also, Startups that have been recognized can apply for the Angel Tax Exemption. Once the approval for tax exemption is given, DPIIT-recognised startups don’t have to pay income tax for three consecutive fiscal years. This can happen at any time in the first ten years after the company was founded.
3. Startup Patent Application: Startups that are recognized by the DPIIT only have to pay 80% of the fees for patents, copyrights, designs, and trademarks. Startups that are recognized by DPIIT can also get their patent applications processed quickly.
4. Simplified rules for how the government buys things: Startups that are recognized by the DPIIT will be able to list their products on the Government e-marketplace. These startups don’t have to put down an Earnest Money Deposit either. The DPIIT Startups also don’t have to have any experience or have been in business before in any Central Government Ministry or Department.
5. Credit Guarantee Fund: Startups that are approved by the DPIIT can get Rs. 2000 crore in Credit Guarantee Fund over a period of 4 years from the National Credit Guarantee Trust Company or SIDBI.
6. Funds of Funds: Startups that have been approved by the DPIIT can get up to Rs. 10,000 crore from the Alternative Investment Funds.
7. Easy to close down. The Insolvency and Bankruptcy Code of 2016 says that a startup that is recognized by the DPIIT can be closed down in less than 90 days after filing for bankruptcy.
How to get a DPIIT registration certificate so that you can be recognized as a startup in Mumbai, Maharashtra, India
- How long the entity has been around. From the date of incorporation, the firm or entity can’t be older than ten years.
- Type of Entity: You can only get a DPIIT Certificate of Recognition if your business is set up as a Private Limited Company, Registered Partnership Firm, or Limited Liability Partnership.
- Original Entity: In order for the company to get the DPIIT Certificate of Recogn, it couldn’t have been made by splitting or remaking an already existing company or entity.
- Limit on Annual Turnover: In order to get the DPIIT Certificate of Recognition, the company must have had an annual turnover of at least Rs 100 crore in any of the fiscal years since it was founded.
- Innovative Entity: For a company or other entity to be considered a startup by the DPIIT, it must be working to improve or develop a product, service, or process.
- Scalable Entity: For a company or other entity to be recognized as a startup by the DPIIT, it must have a business model that can be scaled up and has a high chance of making money and creating jobs.
How to Apply Online in Mumbai, Maharashtra for DPIIT Registration Certificate for Startups to be Recognized?
Any new business in Mumbai, Maharashtra, that wants to get a DPIIT registration certificate can do so online by going to
https://services.dipp.gov.in/lms/registration and following the instructions. There are 3 steps to sign up on the website.
• Fill out an online form
• Choose a user name
• Check your email address and phone number
Application Filing: The next step is to file the application with Startup India by filling out an online form with the required information and sending in the required documents. You must put the following on your application:
Information about the entity, like its type, industry, sector, categories, full address, date of registration, and incorporation number. Information about the Authorised Representative, its directors and partners, its intellectual property rights, and how it is funded.
Upload Documents: The third step is to upload all the documents needed for the application, including any awards the firm has won, a questionnaire, and the firm’s certificate of incorporation.
Self-Attest the Documents: The next step is to make sure you’ve attested to all the relevant information and documents before you file for recognition under DPIIT.
Getting a Recognition Number: The DPIIT certificate of recognition for Startups is issued after all the required documents are submitted and the application is reviewed. Once an entity is registered, it can use the DPIIT G2B portal to file online applications. Anyone can also ask questions or make suggestions about their business, file an application for a license, and keep track of the history of applications filed and licenses received.
List of Documents Needed for DPIIT Registration Certificate to be Recognized as a Startup in Mumbai, Maharashtra, India
To get a DPIIT Certificate of Recognition for your new business in Mumbai, Maharashtra, you will need the following documents:
- The entity or firm’s Certificate of Registration and Incorporation.
- In order to get a DPIIT Certificate of Recognition for Startups, the startup must show proof of funding if it has ever received money.
- Documents about the patent that were put out by the company. This means that the patent needs to be written up in the journals for patents.
- A record of the awards and other recognition that the entity has won.
- A short description of the nature of the business, including how the startup is working to bring innovation, develop products and services, and make money and jobs.
Proof of Document
- A letter of support from either the Central government or the state government in Mumbai, Maharashtra, or from any other incubator recognized by the Government of India, must be submitted.
- The document for finding can’t be less than 20% in equity by angel funds or incubation funds.
Fees for DPIIT registration certificate application to be recognized as a startup in Mumbai, Maharashtra, India
The firms don’t have to pay anything to the Ministry of Commerce and Industry to get the DPIIT Certificate of Recognition for Startups. The whole process can be done without paying any money to the government.
Getting caught with fake documents
If the entity uploads fake documents with its application, the applicant will have to pay a fine of 50% of the startup’s paid-up capital, up to a maximum of Rs 25,000.
Getting DPIIT recognition is good for the startup’s reputation. But there’s more. You read in the article that a DPIIT Certificate gives you access to tax benefits and makes it easier to comply with the law, among other things. It also makes it easier to do business. The process is easy, and we can help you get a DPIIT Certificate of Recognition for Startups every step of the way.
How to get the DPIIT registration certificate to be recognized as a startup in Mumbai, Maharashtra, India
The Startup in India registration certificate from DPIIT can be downloaded from the website www.startupindia.gov.in.
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