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Overview of Startup India Registration by DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It was established in 1995 and reconstituted in the year 2000 with the merger of the Department of Industrial Development.
DPIIT is responsible for the formulation of policy of the Government on Foreign Direct Investment (FDI) and maintenance and management of data on inward FDI. It also plays a significant role in promoting industrial development, including the implementation of the Startup India initiative. Under this initiative, eligible companies can get recognized as Startups by DPIIT to access a host of benefits such as tax benefits, easier compliance, Intellectual Property Rights fast-tracking, and more.
If you are looking to register your startup in DPIIT, you can take our expert help. We will assist you in registering your startup and get a host of benefits for your business.ย
Eligibility Criteria for DPIIT Startup Registration
- Incorporation: The business must be incorporated as a private limited company, partnership firm, or limited liability partnership (LLP).
- Age: The business must be less than ten years old from the date on which it was incorporated.
- Turnover: The business must have an annual turnover of less than INR 100 crores.
- Innovation: The business must be working towards developing new and innovative products, processes, or services driven by technology.
- Objectives: The primary objectives of the business should be wealth creation and employment generation.
- Originality: The business should be an original structure and not a product of the splitting or reconstruction of an existing business.
Benefits of ย Department for Promotion of Industry and Internal Trade
Tax Benefits
- Exemption under Section 56(2)(vii)(b) of the Income Tax Act, 1961.
- Exemption under Section 80-IAC for three consecutive years out of the first ten years since incorporation.
Intellectual Property Rights (IPR) Benefits
- Fast-tracking of patent applications.
- Reduced fees for patent, trademark, copyright, and design applications.
Rebate on patent fees.
Public Procurement Norms
- Easier participation in government tenders with reduced eligibility requirements.
Exemption from submitting Earnest Money Deposit. - Exemption from prior experience/turnover requirements in Central Government ministries and departments.
Ease of Winding Up
- Simplified process for winding up operations within 90 days of applying for insolvency
Funds and Credit Guarantee
- Eligibility for funds of funds from Alternative Investment Funds.
- Access to a Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI.
Startup Seed Fund Scheme
- Support for startups with funds for various stages from concept to commercialization.
Principal Place of Business Change Process
- Get a free consultation: Fill out the form and get a free consultation.
- Pay service fee:Pay our service charges to start the registration process.
- Provide the documents: One fees is paid, you need to provide the documents.
- Get Registered on DPIIT: Once we have all your required documents, our team will start the startup registration process in DPIIT
Required Documents for Principal Place of Business Change
Essential Documents:
- Company Incorporation Certificate: Proof of registration as a private limited company, partnership firm, or LLP.
- PAN Card: Company Permanent Account Number (PAN) issued by the Income Tax department.
- Director/Partner Details: Aadhaar card and PAN card of all directors or partner
- Authorization Letter: A letter authorizing a representative to submit the application on the company's behalf.
Additional Documents:
- Website or Company Profile: If available, a document outlining your company's profile and website.
- Photos/Videos: Visuals showcasing your products or services (optional).
- Intellectual Property (IP): If applicable, documents related to patents, trademarks, or copyrights.
- Funding Information: Details of any funding received by the startup (optional).
Frequently Asked Questions
DPIIT stands for the Department for Promotion of Industry and Internal Trade. It is a central government department under the Ministry of Commerce and Industry in India. DPIIT is responsible for the formulation of policy of the Government on Foreign Direct Investment (FDI) and maintenance and management of data on inward FDI.
- Tax Exemptions: DPIIT-recognized startups can avail tax benefits under Section 80-IAC and Section 56 of the Income Tax Act, 1961.
- Easier Compliance: DPIIT recognition allows startups to comply with regulations at a lower cost.
- Intellectual Property Rights (IPR) Fast-Tracking: Startups can benefit from fast-tracked patent registration with an 80% rebate and trademark registration at a 50% rebate.
- Easier Public Procurement Norms: DPIIT-recognized startups are given relaxation in public procurement norms.
- Access to Funds: DPIIT recognition can provide easier access to funds.
- Eligibility for Government Schemes: DPIIT-recognized startups are eligible for various government schemes designed to support startups.
The DPIIT usually processes applications within a few working days. However, the overall time can depend on how quickly you gather and submit the required documents.
Just fill out the form and get in touch with us. The rest will be handled by our expert team.
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