Introduction
In order to ensure that India's growing number of start-ups have the right resources and support to grow, the government of India has launched the Startup Initiative. Eligible companies get recognized as a start-ups by DPIIT to get easier compliance, tax benefits, IPR fast-tracking, special benefits, and more.
Startup India Registration in Maharashtra
Maharashtra is one of India's most rapidly growing cities, which has an information technology hub and provides advantages to different businesses. One of the main benefits of a Company registered in Maharashtra is the availability of a highly skilled workforce composed mostly of technologically inclined professionals.
In India, the state of Maharashtra is one of the fastest-growing cities in the world, and it is an IT hub that provides benefits to various companies. The availability of a highly skilled workforce composed mostly of technologically inclined professionals is one of the main advantages of a company registered in Maharashtra. The sustainable economic framework for start-ups in Maharashtra consists of cutting-edge infrastructure and favorable business laws. Moreover, it is home to the world's leading technology firms luring new talent from all over the country & a well-known epicenter of innovation. In Maharashtra, there is a lot of scope to register new companies.
Benefits of Startup India Registration in Maharashtra
Self-certification
Startup Patent Application
Tax Exemptions
Easy winding up company
Funds of Funds
Credit Guarantee fund
Documents for Startup India Registration in Maharashtra
Certificate of Incorporation / Registration Certificate and PAN
Email ID and Mobile number
Company Details (Industry, Sector, Category, Regd. Office Address, etc.)
Directors/Partners Details (Name, Photo, Gender, Mobile No. Email ID, Full Address)
Details of Authorized Representative (Name, Designation, Mobile No. Email ID)
A Brief of business and products/services and notes on innovations
Revenue model and Uniqueness of the Product
Website/Pitch Deck/Video/Patent (anyone)
Eligibility Criteria for Startup India Registration in Maharashtra
The eligibility criteria to avail of the DPIIT Certificate of Recognition for startups are as follows:
Period of Existence of Entity: From the date on which the company was founded, the period of existence and operation of the company should not exceed 10 years.
Type of Entity: A company that is incorporated as a limited liability partnership, Limited Liability Partnership, or a registered partnership firm shall be covered by the certificate of recognition provided for under DPIIT.
Annual Turnover: The company shall have an annual turnover of at least INR 100 crore for any of the fiscal years since its federation to obtain a DPIIT certificate of recognition.
Original Entity: The company should not have been incorporated by splitting or reconstituting an existing entity for the purpose of obtaining a DPIIT Certificate of Recognition.
Innovative Scalable Entity: The entity shall work towards the development or improvement of a product, process, or service. A high potential for wealth creation and employment should be ensured by the entity's Scalable Business Model. The company should be capable of creating employment or wealth.
Process of Startup India Registration in Maharashtra
Step 1: Incorporation of Company:Firstly, your company must be incorporated as a private or public limited liability company or LLP through ordinary procedures laid down for these types of companies to register themselves as a startup.
Step 2: Registration for startup online: Registration of your company as a start-up online is the next step and it's very simple. To access the Startup India website, you need to log on and fill in the information in the form. You'll receive an OTP and verify it. Your profile has been created.
Step 3: Apply for DPIIT Recognition: After this, you must obtain Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. This enables start-ups to take advantage of some advantages such as access to intellectual property services, easy business liquidation, funding facilities, and a three-year exemption from taxes. Select the Get Recognized button, or if you are already a user and need to go to your dashboard before clicking on DPIIT recognition. You filled in the form for the recognition of the startup and submitted it. For this, you will be required,
1. Incorporation certificate of a start-up.
2. Director details.
3. Pan number.
4. Trademark or patent details if required.
Step 4: Issuance of Recognition certificate: You will receive a certificate of recognition in 2 days following submission of all the necessary documents. Make sure that whatever you've uploaded is valid, if it turns out that it's forged or not valid, you'll have to pay a penalty of 50% of your paid-up capital of the minimum fine of INR 25 000.
You can go to the Officer of the Startup Registry and apply for it with an 80% exemption on the expenses if your startup requires any trademark or patent registration.
Conclusion
In India, Maharashtra is one of the most prosperous states. If you are looking to start a business in Maharashtra and looking for Startup India Registration in Maharashtra, then this is the correct place for you. Any kind of business like Manufacturing, selling products, providing services across India, etc. can be easily done in Maharashtra because all facilities and services available in Maharashtra to run a business.
We at eStartIndia will help you in registering your startup with every legal aspect that is required with the help of our efficient team.
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