DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE (DPIIT) REGISTRATION

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DPIIT

Startup India Scheme is a flagship program by the Government of India, launched in 2016. The Government through this initiative aims to empower startups to grow through innovation and design. The goal of Startup India is the development and innovation of products and services and increasing the employment rate in India. Under the Startup India initiative, eligible companies can get recognized as Startups by the Department for Promotion of Industry and Internal Trade (DPIIT) to access a host of tax benefits, easier compliance, IPR fast-tracking & more. The Department for Promotion of Industry and Internal Trade (DPIIT) is mandated to coordinate the implementation of the Startup India initiative with other Government Departments. DPIIT is the monitoring agency and the Small Industries Development Bank of India (SIDBI) is the operating agency for the Fund of Funds for Startups (FFS).

Benefits of DPIIT

Self-Certification
After obtaining the DPIIT Certificate of Recognition for Startups, the entity will be allowed to self-certify compliance under 3 Environmental Laws and 6 Labour Laws.
Start-Up Patent Application
The DPIIT recognized startups are required to pay only 80% of the fees on Patents, trademark, copyrights and design, and the fast-tracking of a patent application will be available for startups.
Easier Public Procurement Norms
The DPIIT recognized startups will get an opportunity to list the product on Government e-Marketplace. DPIIT recognized startups are exempted from submitting Earnest Money Deposit.
Exemption from Prior Experience / Turnover is provided for Start-ups in all Central Government ministries and departments.
Easy winding up of Company
According to the Insolvency and Bankruptcy Code, 2016, the company can be wound up within 90 days of applying for insolvency.
Funds of Funds
The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds.
Credit Guarantee fund
The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years.
Tax Exemptions
After obtaining the Certificate of Recognition, the Startup can apply for Tax exemption under section 80 IAC of the Income Tax Act. The DPIIT recognized startups can apply for Angel Tax Exemption.
After obtaining the clearance for Tax exemption, the DPIIT recognized startups are exempted from income tax for 3 consecutive fiscal years out of its first ten years since formation.

Procedure of DPIIT

1
Business incorporation

Firstly, register the entity either in the form of a limited liability partnership or a private limited company or a firm.

2
Above mentioned registered entity to be register under DPIIT

Now, file the application with Startup India. For that you just have to fill the form online with few details and documentation.

3
Upload mandatory documents online

Documents required for uploading while filing the application form of DPIIT registration.

4
Self-certify your documentation

You must certify all related documents and details mentioned before filing for the recognition under Startup like form of business, turnover etc.

3
Getting recognition number

The DPIIT certificate of recognition for startups will be issued after examination of the application and documents submitted. All the registered entities are allowed to access the DPIIT G2B portal to file the online applications, enquiries and anyone can raise any questions related to their businesses, file the applications for their licenses and can keep a track on their filed applications history and previously obtained licenses.

Documents Required for DPIIT

DPIIT Registration - Basic:

  • Certificate of Incorporation or Registration of entity
  • If the Startup received any funding, the Proof of Funding need to furnish for the DPIIT Certificate of Recognition for Startups
  • Document of awards or recognition received by the entity
  • Document of the patent published by the entity (The patent should be published in the patent journals)
  • A brief description of the nature of the business. The write-up should contain the following details:
    i) Details of how the startup is working towards innovation
    ii) Development of products or processes or services
    iii) The scalability in terms of employment generation or wealth creation

Eligibility Criteria of DPIIT

Period Of Existence Of Entity
The period of existence and operations of the company should not exceed 10 years from the date of formation.
Type of Entity
The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm.
Annual Turnover
To get the DPIIT Certificate of Recognition, the firm should have an annual turnover of Rs. 100 crores for any of the fiscal years since its federation.
Original Entity
To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity.
Innovative & Scalable Entity:
The entity should be working towards development or improvement of a product, process or service.

FAQs

Q. Is there an applicable fee payable to DPIIT for getting recognition?
No, for getting recognition as a start-up, the entities are not expected to pay any fee to the DPIIT.

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