Startup India Registration | LPC Consultancy

Startup India Registration with LPC Consultancy

Empowering Entrepreneurs with Startup India Registration

Startup India is a flagship initiative by the Government of India aimed at building a robust ecosystem that nurtures innovation and drives sustainable economic growth. This scheme was launched to support entrepreneurs in starting and scaling their businesses by providing various benefits such as tax exemptions, easier compliance, and funding opportunities. At LPC Consultancy, we help you leverage the benefits of this initiative by guiding you through the Startup India Registration process, ensuring that your startup meets all the necessary criteria and complies with the regulations set by the government.

Why Register Under the Startup India Scheme?

Registering under the Startup India Scheme opens up a world of opportunities for entrepreneurs. The benefits are designed to help startups overcome traditional barriers to business growth and innovation. Here’s why you should consider registering your startup under this scheme:

Tax Exemptions and Benefits: Startups registered under the scheme are eligible for tax exemptions on profits for three consecutive years. Additionally, they can enjoy tax exemptions on capital gains, which is crucial for reinvesting in the business.
Easier Access to Funding: The Startup India initiative provides access to a wide range of government-backed funds and schemes. This makes it easier for startups to secure the necessary funding to fuel their growth and innovation.
Simplified Compliance: The scheme simplifies the compliance process for startups by offering self-certification for labor and environmental laws, reducing the regulatory burden on young businesses.
Faster Patent Processing and IPR Support: Startups can benefit from faster processing of patent applications and a 50% rebate on patent fees. This encourages innovation by making it easier and more affordable to protect intellectual property.
Networking Opportunities: Startup India offers numerous networking opportunities through various events, workshops, and seminars, where entrepreneurs can connect with industry experts, mentors, and investors.
Government Tenders: Startups registered under the scheme have access to government tenders without the need for prior experience or turnover criteria, giving them a level playing field with established businesses.

Incubation Support: The scheme provides access to incubators across India, which offer resources, mentorship, and infrastructure to help startups grow and succeed.

Startup India Registration Process

LPC Consultancy makes the Startup India Registration process straightforward and hassle-free. Here’s a step-by-step guide to how we help you get your startup registered under this prestigious scheme:

Eligibility Check: The first step involves assessing your startup’s eligibility for the scheme. Your business must be registered as a Private Limited Company, LLP, or Partnership Firm, and should not be older than ten years. Additionally, your turnover should not exceed Rs. 100 crore in any financial year.
Preparation of Documents: We assist you in gathering the necessary documents, such as your company’s incorporation certificate, a brief about your business, and details of the funding you’ve raised.
Online Application Submission: We help you complete and submit the Startup India application form on the Startup India portal. This includes providing information about your business, its innovative nature, and how it contributes to economic growth.
DPIIT Recognition: After the submission, your application will be reviewed by the Department for Promotion of Industry and Internal Trade (DPIIT). Once approved, your startup will receive a certificate of recognition, which allows you to access the benefits of the scheme.
Tax Exemption Application: Post recognition, we guide you through the process of applying for tax exemptions under Section 80IAC of the Income Tax Act, enabling you to enjoy three consecutive years of tax-free profits.

Ongoing Compliance and Support: Once your startup is registered, LPC Consultancy provides ongoing support to ensure that your business remains compliant with all the necessary regulations and continues to benefit from the scheme.

BENEFITS

WHY SHOULD YOU REGISTER A STARTUP INDIA?

Eligibility to apply for 3 years Income Tax exemption

Eligible Startups can be exempted from paying income tax for 3 consecutive financial years out of their first ten years since incorporation.

Priority Govt. Tender and Procurement Scheme

Exemption from prior experience or turnover and Security deposit for filing tenders. Opportunity to list Startup products on Government e-marketplace for market visibility.

Finally, Labour Inspector Raj Gone for Startups

No more Labour Law Inspection fear for Startups. Recognised Startups can self manage their PF, ESIC, Gratuity and Environmental Law Compliance through simple self-declaration.

Private Limited can take deposit from its members

For a period of five years from the date of its incorporation under the Companies (Acceptance of Deposits) Rules, 2014.

Eligibility to avail funding from Rs. 10,000 crore FOF scheme

Under Funds of Funds for Startups Scheme already more than Rs. 1600 crore is invested in 251 Startups.You may be one of the Startups for the remaining Rs. 8,400 crore corpus.

No Angel Tax up to Rs. 25 crore funding

Investments into eligible Startups by Accredited Investors, Non-Residents, AIFs, closely held listed companies may also be exempted under Section 56 (2) (VIIB) of Income Tax Act, 1961.

50% discount in Trademark & 80% rebate in Patents fees

Fast tracking of Startup Patent application, Upfront 50% discount on Trademark fees, 80% Rebate on Patent filing fees.

Eligibility for availing State Govt. Incentives

Like Maharashtra State GST rebate scheme, Many other Loan and Rebate Incentives are announced by different State Governments of India.

ELIGIBILITY FOR STARTUP INDIA REGISTRATION

Private Ltd. Co./LLP/Partnership Firm

Company is Offering Innovative products or service OR

Registered for not more than 10 years

Company is having a business model with high potential of employment eneration OR

Turnover does not exceed Rs. 100 crore

Company is having a business model with high potential of wealth creation

Documents Checklist

DOCUMENTS REQUIRED FOR STARTUP INDIA REGISTRATION

Incorporation/Registration Certificate

The certificate of incorporation or registration of your startup as a Private Limited Company, LLP, or Partnership Firm.

PAN Card

PAN card of the company/LLP/partnership and the founders.

Website/Presentation

A link to the company’s website or a presentation about the business.

Description of Business

A brief description of your business, highlighting its innovative nature and how it contributes to economic development.

Proof of Funding

Details of any funding received from investors, if applicable.

Why Choose LPC Consultancy for Startup India Registration?

At LPC Consultancy, we pride ourselves on being the trusted partner for startups looking to maximize their potential through the Startup India scheme. Here’s why you should choose us:

Expert Guidance: Our team of experienced professionals has deep knowledge of the Startup India scheme and the requirements for registration. We provide personalized guidance throughout the registration process.
End-to-End Support: From eligibility checks to document preparation and application submission, we offer comprehensive support to ensure a smooth and successful registration process.
Ongoing Compliance Management: We help you maintain compliance with the scheme’s requirements, ensuring that your startup continues to benefit from the various incentives and exemptions.
Transparent Pricing: We offer clear and upfront pricing with no hidden fees, so you know exactly what to expect.
Quick Turnaround: We understand the importance of time in the startup ecosystem. Our streamlined process ensures that your registration is completed as quickly as possible.

FAQs About Startup India Registration

What is the process for appointing a director in a company?

The process involves obtaining a DSC, applying for a DIN, passing a board resolution, and filing Form DIR-12 with the ROC.
What documents are required for appointing a director?

Key documents include the DSC, DIN, identity proof, address proof, consent to act as a director (Form DIR-2), and a declaration of non-disqualification.
What is Form DIR-12?

Form DIR-12 is the form filed with the ROC to notify the appointment of a new director, containing details about the director and their role.
What is a DIN, and why is it required?

A DIN (Director Identification Number) is a unique identification number issued by the MCA to individuals who wish to serve as a director in any company.
Can an individual be a director in more than one company?

Yes, an individual can serve as a director in multiple companies, but there are limits on the number of directorships as per the Companies Act.
What happens if Form DIR-12 is not filed on time?

Failure to file Form DIR-12 within 30 days of the director’s appointment can result in penalties and the appointment being considered invalid.
Who can appoint a director?

Directors can be appointed by the company’s board of directors, shareholders, or a nomination committee, depending on the company’s articles of association.
What is the role of a non-executive director?

A non-executive director contributes to the company’s governance and strategic decision-making but does not participate in day-to-day operations.
How can LPC Consultancy help in appointing a director?

LPC Consultancy handles the entire process, from document collection to filing with the ROC, ensuring a smooth and compliant appointment.
Can a director be appointed without a board meeting?

No, a board meeting must be held, and a resolution must be passed to formally appoint the director.
Can a foreign national be appointed as a director in an Indian company?

Yes, foreign nationals can be appointed as directors in Indian companies, provided they meet the eligibility criteria and have the necessary documentation.
What is the difference between an executive and a non-executive director?

An executive director is involved in the company’s day-to-day management, while a non-executive director focuses on governance and strategy.
Is a Digital Signature Certificate (DSC) mandatory for directors?

Yes, a DSC is required for signing digital forms and documents submitted to the ROC.
What is Form DIR-2?

Form DIR-2 is the written consent from the director, stating their willingness to act as a director in the company.
Can a company appoint more than one director at a time?

Yes, a company can appoint multiple directors in a single board meeting, provided all necessary filings are completed.
What is a nominee director?

A nominee director is appointed to represent the interests of a shareholder, creditor, or financial institution on the company’s board.
Can a director be removed after being appointed?

Yes, a director can be removed through a shareholder resolution or by the board, depending on the company’s articles of association.
What is the tenure of an additional director?

An additional director holds office until the next AGM, after which the shareholders must confirm their appointment.
Is there a minimum age requirement for becoming a director?

Yes, an individual must be at least 18 years old to be eligible for appointment as a director in an Indian company.
What is the maximum number of directorships a person can hold?

An individual can hold a maximum of 20 directorships, with not more than 10 in public companies.
What is the process for resigning as a director?

A director can submit their resignation, and the company must file Form DIR-12 to inform the ROC of the resignation.
Can an LLP appoint a director?

No, LLPs have designated partners instead of directors, but partners can have similar roles in decision-making.
Is it necessary to update statutory registers after appointing a director?

Yes, the statutory registers of directors and key management personnel must be updated after appointing a director.
What is the role of an alternate director?

An alternate director is appointed to temporarily act on behalf of a director who is unable to attend board meetings for an extended period.
What sets a Private Limited Company apart from other business structures in India?

A Private Limited Company offers a balance between flexibility and limited liability, making it ideal for small to medium-sized businesses that wish to grow while minimizing personal financial risk.
Why should I consider registering my business as a Private Limited Company?

Registering as a Private Limited Company provides your business with legal recognition, enhances credibility, and opens up opportunities for investment and growth, while protecting your personal assets.
Can I start a Private Limited Company if I already have another business?

Yes, you can start a Private Limited Company even if you already own another business. However, the new company must operate as a separate legal entity with its own distinct identity.
What is the process for choosing the right business structure before registration?

Choosing the right business structure involves evaluating your business goals, investment plans, risk appetite, and long-term vision. Our experts at LPC Consultancy can help you make an informed decision.
What happens if my chosen company name is already taken?

If your preferred company name is already in use or does not meet the naming guidelines, you will need to submit alternative names. Our team will assist in checking availability and suggesting appropriate names.
How does a Private Limited Company protect my personal assets?

In a Private Limited Company, shareholders' liability is limited to the amount they have invested in shares. This means your personal assets are protected in case the company faces financial difficulties.
Can I run my Private Limited Company from home?

Yes, you can run your Private Limited Company from your home as long as the address is registered with the Ministry of Corporate Affairs as the official registered office of the company.
Is it necessary to have a physical office space to register a Private Limited Company?

While you need a registered office address, it does not have to be a commercial space. It can be a residential address, as long as it is in India and all legal notices can be served there.
How many shareholders are required to form a Private Limited Company?

A Private Limited Company requires a minimum of two shareholders and can have a maximum of 200 shareholders.
What is the role of a Director in a Private Limited Company?

Directors are responsible for managing the day-to-day operations of the company, making strategic decisions, and ensuring compliance with legal and regulatory requirements.
Can I appoint a foreign national as a director in my Private Limited Company?

Yes, foreign nationals can be appointed as directors in a Private Limited Company, provided they obtain a valid Director Identification Number and comply with other legal requirements.
What are the responsibilities of a shareholder in a Private Limited Company?

Shareholders own a portion of the company through their shares and have the right to vote on major decisions, such as the election of directors and changes to the company's structure.
Can I transfer shares in a Private Limited Company?

Yes, shares in a Private Limited Company can be transferred, but the process is more restricted compared to public companies. The transfer usually requires approval from the board of directors.
How does a Private Limited Company handle profits and losses?

Profits earned by the company can be distributed to shareholders as dividends, reinvested in the business, or held in reserves. Losses are borne by the company, and shareholders are not personally liable.
What is the significance of the Memorandum of Association (MOA) and Articles of Association (AOA)?

The MOA outlines the company’s objectives and scope of activities, while the AOA defines the internal rules for managing the company. Together, they form the company's constitution.
How does a Private Limited Company ensure compliance with regulatory authorities?

A Private Limited Company must comply with various regulations, including filing annual returns, maintaining statutory records, and adhering to tax obligations. LPC Consultancy offers ongoing compliance services to help manage these responsibilities.
What are the options for raising capital in a Private Limited Company?

A Private Limited Company can raise capital by issuing shares, obtaining loans, or seeking investments from venture capitalists, angel investors, or private equity firms.
How does a Private Limited Company maintain its perpetual succession?

Perpetual succession means that the company continues to exist even if shareholders or directors change, ensuring continuity of business operations.
What role does the Registrar of Companies (ROC) play in company registration?

The Registrar of Companies is the government authority responsible for registering companies, maintaining records, and ensuring that companies comply with legal requirements.
How do I ensure my Private Limited Company name is unique and compliant with regulations?

Our team at LPC Consultancy will help you conduct a thorough search to ensure your chosen name is unique and compliant with the naming guidelines set by the Ministry of Corporate Affairs.
What are the common challenges faced during the registration of a Private Limited Company?

Common challenges include name availability issues, document verification delays, and compliance with legal formalities. Our experts at LPC Consultancy help you navigate these challenges smoothly.
Can I convert my Private Limited Company into another business structure later?

Yes, a Private Limited Company can be converted into another business structure, such as a public limited company or LLP, by following the legal process. LPC Consultancy can assist with the conversion process.
What are the tax implications for shareholders in a Private Limited Company?

Shareholders in a Private Limited Company may be subject to tax on dividends received. Additionally, the company itself is subject to corporate taxes on its profits.
How does a Private Limited Company ensure confidentiality of its business operations?

While a Private Limited Company must comply with public disclosure requirements, it can maintain confidentiality in certain areas, such as internal management practices and shareholder agreements.
Why should I choose LPC Consultancy to help register my Private Limited Company?

LPC Consultancy offers personalized guidance, transparent pricing, and a commitment to timely and accurate service, ensuring your company registration process is efficient and stress-free.