A) Private Limited Company
- Certificate of Incorporation, Memorandum & Articles of Association;
- Copy of KYC of all the Directors & Authorized Signatory along with their email id and mobile numbers.
- Brief Profile of the business proposed to be undertaken
- PAN, TAN of the Company & GST, if any.
- Details of any Intellectual Property (IP) held by the Company
B) Limited Liability Partnership (LLP)
- Certificate of registration along with LLP deed
- Copy of KYC of all the Designated Partners & Authorized Signatory along with their email id and mobile numbers.
- Brief Profile of the business proposed to be undertaken
- PAN, TAN of the Firm & GST, if any.
- Details of any Intellectual Property (IP) held by the Company
Myths about Start Up India Registration/Recognition
Start Up India Registration or rather we say DPIIT Recognition, is an acknowledgement of an organization under the Start Up India Scheme, which in any means or by any way allow you to tax exemptions. There is a separate process and application for obtaining the tax exemptions from the authorities and it is solely on their discretion whether to grant or not.
Angel Tax Exemption for Recognized Start-Ups: Section 56 of the Income Tax Act, 1961
A recognized start up can apply for Angel Tax exemption under section 56 of the Income Tax Act, 1961, if he fulfills the below criteria:
- Aggregate amount of paid-up share capital and share premium of the Startup after the proposed issue of share, if any, does not exceed INR 25 Crore.
There are certain exemptions and methods for calculation of the criteria of INR 25 crore, in which our professionals can help you.
Eligibility Criteria for applying to Income Tax exemption (80IAC)
- Only private limited companies and limited liability partnerships are allowed to apply for tax exemptions.
- Recognized start up should be incorporated after 01/04/2016.
Documents required for applying tax-exemption under section 80-IAC
- Authorization Through Board Resolution for applying to the authorities for tax exemptions.
- Financials of at least one year along with copy of Income Tax return
- Pitch deck completed in all aspects.
- Start Up Video link on youtube or any other social media platforms, explaining its business
- Details of Angel investment received, if any.
