Run Your Business (Lite)

The Private Limited Company format can be seen as the ideal form because its capital structure can incorporate venture capital funding and issue of ESOPs. Moreover since companies are regulatory compliant, banks and other financial institutions like NBFCs prefer granting loans and advances to pvt. ltd. companies over other form such as partnerships, proprietorships etc.

If you fulfill following conditions, you are eligible to apply under the scheme subject to government qualifiers:

• Yours entity is incorporated or registered in India


• It is not older than five years


• The annual turnover should not have exceeded INR 25 crore in any preceding Financial Year


• It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property

To avail the benefits under this initiative, the startup entity should be registered as one of the below:

• Private Limited Company


• One Person Company(OPC)


• Registered Partnership firm


• Limited Liability Partnership Firm (LLP)

Our consultant will advise on the the procedure to register under Start India Initiative. To know more, write to us at enquiries@cleartax.in

The scheme has brought a bunch of benefits for the startup to launch in a cost effective manner, procure funds, get their intellectual rights protected at subsidised rates among others.
The key benefits under Startup India initiative are:

• Tax benefits


• Relaxation in Income Tax for first three years


• Exemption on Capital Gain


• Intellectual Property rights protection


• Fast track processing and 80% rebate on Startup Patent Registration


• Simplified process


• Simplified route to incorporate business and getting other government registration via dedicated web portal and mobile app


• Arrangement of self certificate based compliance


• No inspection during the first 3 years


• Easy exit policy


• Mentorship by industry experts & ease in procurement of funds


• Academic Partnership & Incubators support in Research & Analysis


• Funding Support through a â??Fund of Fundsâ?? with a Corpus of INR 10,000 crore

Ministry of Corporate Affairs(MCA) has initiated a fast track registration procedure called Simplified Proforma for Incorporating Company Electronically (SPICe). SPICe enables a single form application process of company registration.With SPICe route, company incorporation ptocedure can be completed within 7 working days.

We have partnered with Instamojo for below services to startups at a special rate for ClearTax customers. You will have following benefits

• Zero Fee on Payment Gateway Integration


• Zero Transaction charges upto Rs. 2 Lakhs


• Discount on Charges per transaction beyond 20 transactions

Once you avail our startup package, ClearTax representatives will directly connect you with our partners to avail these benefits.

We have partnered with coworking spaces such as BHIVE and 91 Springboard to help you find the best workspace across 50 locations in the country for your business. Not only that, ClearTax customers will get the following benefits -

• Special 10% discount on workspace


• A Free day pass to Cleartax Customers, for the first time users at any of BHIVE locations

Once you avail this package, ClearTax representatives will directly connect with our partners based on your requirement.

No Sweat. We have collaborated with Google to offer you G-Suite - Gmail, Docs, Drive, Calendar and much more at a special discount of 20% to ClearTax customers

With BigRock as our domain hosting partners, you will be able to set up your website in no time. As a ClearTax customer, you will be eligible for special offers.

As a startup, we understand the banking needs for entrepreneurs. We have collaborated with Indiaâ??s leading banks to offer comprehensive banking solutions for your business:

ICICI Bank

• Business Networking with BizCircle


• Opportunity to connect with investors at ICICI events


• Customized solutions on current account and digital banking


• Personalized service with dedicated relationship manager


• Special Deals and offer on select business services

Yes Bank

• Customized Current Account


• Seamless Digital Banking


• Dedicated Startup Branches


• Bespoke Privilege Program

As a ClearTax customer, our representatives will direct connect you with our partners to avail these services

Below are the charges applicable for DIN and other government forms:

• DIN (2 Nos): Rs.1000


• RUN Form: Rs.1000


• AoA: Rs.1000 (up to Rs.10 lakh of authorized capital)


• MoA: Rs.1000

Below is the stamp duty payable, depends on the state you incorporate and your authorized share capital up to Rs. 10 Lakh:
These are the charges in Karnataka:

• AoA: Rs.1000


• Moa: Rs.1000


• Form 32: Rs.20

Apart from this, notary charges of Rs.340 will apply for two director affidavits and related stamp duty.

Yes, an NRI or any foriegn national can become a director in a private limited company. But such person can be taken as a director only when there is one director who is a Resident of India.
Additional documents required:

• Copy of Passport Copy Which is attested by Consulate of Indian Embassy or Foreign Public Notary.


• Copy of Driving License/ Bank Statement or Electricity Bills copy or Any Property Tax Payment Receipt which is attested by Consulate of Indian Embassy or Foreign Public Notary.

RBI approval is required for foreign capital contribution. Additional charges will be applicable for RBI approval. Our experts will advise you on the applicable charges.

Under this package, we incorporate a company or LLP with a maximum of 2 directors or designated partners. If the number of directors are more than two, you will need to pay additional charges. Our experts will advise you on the same.

In the current package, we cover upto 2 digital signatures for two directors. For two additional shareholders, you need to secure two additional digital signatures certificates. We offer digital signature certificate - Click hereto purchase digital signature

To bring in additional director, you need to secure digital signature (DSC ).

• Click here to purchase digital signature

Only passport of the foreign director is required. In some countries, residency certificate will be provided. These need to be submitted for the application. Any incidental charges here is not covered in the package.

To bring in additional director, you need to secure two digital signatures (DSC)

• Click here to purchase digital signature

If the individual is residing outside India at the time of the application, then he or she needs to get the PAN, Aadhaar, current address (in the country of residence), permanent address attested by Indian embassy in that country. Any incidental charges here is not covered in the package.

You will need to have exactly the same details on all your documents to incorporate your company.

Due to the increasing enthusiasm among too many entrepreneurs who wish to incorporate their companies, the MCA has made stringent rules to approve the company name and issue the certificate of incorporation. Further, due to excessive demand, the PAN and TAN applications are also increasing and thus it is understood that this processing will take time too. So, we could take a range between 20-25 working days to complete the company incorporation process and receive the certificate of incorporation.