How to Get DPIIT Recognition Under Startup India Scheme

Are you a startup founder in India looking to get your company recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India scheme? Obtaining DPIIT recognition can provide your startup with numerous benefits and support from the government. In this blog post, we will walk you through the step-by-step process of obtaining DPIIT recognition for your startup.

Eligibility Criteria for DPIIT Recognition

To be eligible for DPIIT recognition under the Startup India scheme, your company must meet the following criteria:

1. Entity Type: Your startup should be incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership (LLP).

2. Age: Your startup should not be older than 10 years from the date of incorporation.

3. Annual Turnover: Your startup's annual turnover should not exceed Rs. 100 crores in any of the previous financial years.

4. Innovation: Your startup should work towards innovation, development, or improvement of products, processes, or services. It should have the potential to generate employment, create wealth, and have a significant social impact.

5. Scalability: Your startup should demonstrate a scalable business model with a high potential for growth and employment generation.

   
   

Documents Required for DPIIT Recognition

Before applying for DPIIT recognition, ensure that you have the following documents ready:

1. Incorporation Certificate: The certificate of incorporation of your company, issued by the Registrar of Companies (ROC).

2. Memorandum of Association (MOA) and Articles of Association (AOA): The MOA and AOA of your company, which define its objectives and rules.

3. Proof of Concept: A document that demonstrates your startup's innovation, scalability, and potential for job creation and wealth generation.

4. Patent/Trademark Details: If applicable, provide details of any patents or trademarks obtained by your startup.

5. Funding Details: If your startup has received funding from angel investors, venture capitalists, or other sources, provide the relevant details and supporting documents.

   
   

Application Process for DPIIT Recognition

1. Register on the Startup India Portal: Visit the official Startup India portal (https://www.startupindia.gov.in/) and click on the "Register" button. Fill in the required details and create an account.

2. Fill the DPIIT Recognition Application Form: Once logged in, navigate to the "Recognition" section and click on "Apply for Recognition." Fill in the application form with accurate details about your startup, including the incorporation date, founders' information, and business model.

3. Upload Supporting Documents: Upload the required documents, such as the incorporation certificate, MOA, AOA, proof of concept, patent/trademark details (if applicable), and funding details (if applicable).

4. Self-certification: Provide a self-certification stating that your startup meets the eligibility criteria for DPIIT recognition and that the information provided in the application form is true and accurate.

5. Submit the Application: Review the application form and supporting documents carefully. Once satisfied, submit the application for DPIIT recognition.

   
   

Post-application Process

1. Evaluation: The DPIIT will evaluate your application based on the eligibility criteria and the supporting documents provided.

2. Clarifications (if required): If the DPIIT requires any additional information or clarifications, they will reach out to you via email. Promptly respond to their queries to facilitate the evaluation process.

3. Recognition Certificate: If your application is approved, the DPIIT will issue a recognition certificate to your startup. The certificate will be sent to your registered email address and will also be available for download on the Startup India portal.

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Benefits of DPIIT Recognition

Obtaining DPIIT recognition offers several benefits to your startup, including:

1. Simplified Compliance: Recognized startups are exempt from various compliances under the Companies Act, 2013, such as the requirement to have a paid-up capital of Rs. 1 lakh and the need to obtain a certificate of commencement of business.

2. Intellectual Property Rights (IPR) Benefits: Recognized startups are eligible for an 80% rebate on patent filing fees and a 50% rebate on trademark filing fees.

3. Government Tenders: Recognized startups get preference in government procurement, with exemption from the requirement of prior turnover and experience.

4. Tax Benefits: Recognized startups are eligible for income tax exemption under Section 80-IAC of the Income Tax Act for three consecutive years out of the first ten years since incorporation.

5. Access to Funding: Recognized startups have access to various government funding schemes, such as the Fund of Funds for Startups (FFS) and the Credit Guarantee Scheme.

   
   

How Fiscal Flow Can Help

At Fiscal Flow, we understand the importance of DPIIT recognition for startups in India. As a leading tax and compliance firm, we specialize in assisting startups navigate the complex regulatory landscape and achieve their growth objectives.

Our team of experienced professionals can guide you through the entire process of obtaining DPIIT recognition, from assessing your eligibility to preparing the necessary documents and submitting the application. We can also provide valuable insights and strategies to maximize the benefits of DPIIT recognition for your startup.

In addition to DPIIT recognition assistance, Fiscal Flow offers a comprehensive range of services tailored to the unique needs of startups, including:

• Incorporation and business setup

• Tax planning and optimization

• Regulatory compliance

• Accounting and bookkeeping

• Fundraising support

• Intellectual property protection

  
  

By partnering with Fiscal Flow, you can focus on building your startup while we take care of the complex tax and compliance matters. Our expertise and personalized approach ensure that your startup remains compliant, efficient, and well-positioned for success.

If you have any questions about obtaining DPIIT recognition or would like to learn more about how Fiscal Flow can support your startup's growth journey, please don't hesitate to reach out to us. Our team is ready to assist you every step of the way.