There are few simple steps for getting Startup India Registration:
Your company must meet the following criteria to be considered eligible for Startup India Registration.
Period of existence and operations should not be exceeding 10 years from the Date of Incorporation for Startup India Registration.
Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership for Startup India Registration.
Should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation for Startup India Registration.
Entity should not have been formed by splitting up or reconstructing an already existing business for Startup India Registration.
Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment for Startup India Registration.
Post getting recognition a Startup may apply for Tax exemption under section 80 IAC of the Income Tax Act. After getting approval for Tax exemption, the Startup can avail tax holiday for 3 consecutive financial years out of its first ten years since incorporation.
Updated financial statements (Balance Sheet, Profit & Loss statement, Income Tax Returns) for the past three years or from the year of incorporation
The video should be of a maximum of 2 minutes and should cover the following aspects:
IEC Stands for Importer Exporter code which is a 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India. It is a registration required for traders importing or exporting goods and services to or from India.
Import Export Code number is a proof of a firm as an Exporter/Importer in India. IE code can be submitted with government authorities as a proof of trade to obtain various benefits on their exports / imports from DGFT, customs etc.