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MSME Udyam Registration

Udyam Registration is a government-recognized certification for micro, small, and medium enterprises (MSMEs) in India.

Key Features:

1. Self-declaration based registration

2. No inspection required

3. Instant registration certificate

4. Lifetime validity

 

Benefits:

1.      Collateral-free Loans: Registered MSMEs can avail themselves of collateral-free loans under various Government schemes.

2.      Waiver of Government Security Deposits: The registration allows businesses to avoid hefty Government security deposits.

3.      Protection against Delayed Payments: Udyam Registration provides a platform for seeking redressal against delayed payments, fostering financial security.

4.      Easy participation in Government Tenders: Registered MSME’s can take part in Government tender auctions and easily avail exemptions from Earnest Money Deposit (EMD) while applying for government tenders.

5.      Concessions on Electricity bill: Enterprises having Udyam Registration can avail concession in electricity bills by giving an application to electricity board along with Udyam Registration Certificate

6.      Subsidy on patent and trademark registration: Registered MSME’s can avail 50% subsidy on patent and trademark registration. 

Requirements for Registration:

1.      Aadhar Number

2.      PAN

3.      GST number (if applicable)

 

Eligibility for UDYAM registration:

1. Proprietorships

2. Partnership Firm

3. Limited Liability Partnerships (LLPs)

4. Private Limited Companies

5. Public Limited Companies

6. Hindu Undivided Family (HUF)

7. One Person Company

8. Cooperative Societies

9. Any other person/undertakings

 

Criteria for MSME Classification:

1. Micro Enterprises:

    - Investment < ₹1 crore

    - Turnover < ₹5 crore

2. Small Enterprises:

    - Investment < ₹10 crore

    - Turnover < ₹50 crore

3. Medium Enterprises:

    - Investment < ₹50 crore

    - Turnover < ₹250 crore

 

Steps for Udyam Registration

Step 1: Visit the Udyam Registration Portal

Step 2: Fill your Application Form

Step 3: Make online Payment

Step 4: The application will be processed and scrutinized by the department

Step 5: Download the Udyam Registration Certificate

 

Frequently Asked Questions (FAQ’s) related to Udyam Registration:

1. What is Udyam Registration?

 -  Udyam Registration is a government-recognized certification for micro, small, and medium enterprises (MSMEs).

 

2. Why is Udyam Registration necessary?

- To access government schemes, subsidies, and benefits.

 

3. Who is eligible for Udyam Registration?

- Anyone from the list given below, willing to establish a Micro, Small , or Medium Enterprises(MSME) can apply for Udyam Registration:

1. Proprietorships

2. Partnership Firm

3. Limited Liability Partnerships (LLPs)

4. Private Limited Companies

5. Public Limited Companies

6. Hindu Undivided Family (HUF)

7. One Person Company

8. Cooperative Societies

9. Any other person/undertakings

 

4. What benefits do I get with Udyam Registration?

- Udyam Registration provides benefits of access to government schemes, subsidies, tenders, collateral-free loans, protection from delayed payments, and more.

 

5. Can I avail of government subsidies with Udyam Registration?

- Yes, Udyam registered MSMEs are eligible for various government subsidies.

 

6. Does Udyam Registration provide any tax benefits?

 - Yes, registered MSMEs are eligible for tax exemptions and concessions.

 

7. Can I update my Udyam Registration details?

 - Yes, you can update your Udyam Registration details.

 

8. How do I get Udyam Registration?

- You can register online on the Udyam portal accessible through the Ministry of MSME's official website and provide the necessary details such as business information Adhaar number and other required documents.

PAYMENT DETAILS

500

Service Amount

₹ 500

Discount Amount

₹ 0

Total Amount

₹ 500

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Frequently Asked Questions

Chartered Accountants (CAs); Tax Return Preparers; Tax Consultants and Certified Tax Professionals are the experts in India who can guide and file returns.

Private Limited Company set-up process typically takes around 10-12 working days. However, it can vary depending on several factors, such as the speed of document submission, verification, and approval from the authorities.

Selection of suitable entity structure for a startup involves considering several factors such as:

1. Business Goals: Define your startup's mission, vision, and objectives.
2. Ownership: Determine the number of owners (sole proprietorship, partnership, or multiple owners).
3. Liability: Consider the level of personal liability protection needed.
4. Taxation: Think about tax implications.
5. Funding: Will you need to raise capital from investors or lenders?
6. Growth Plans: Consider future expansion, mergers, or acquisitions.
7. Compliance: Evaluate the regulatory requirements and compliance burden.
8. Flexibility: Assess the need for flexibility in decision-making and management.

Common business structures for startups:
1. Sole Proprietorship: Simple, low-cost, but offers no liability protection.
2. Partnership: Shared ownership, but partners have personal liability.
3. Limited Liability Partnership (LLP): Combines partnership benefits with liability protection.
4. Private Limited Company: Offers liability protection, tax benefits, and credibility.
5. Limited Liability Company (LLC): Flexible with liability protection.

The Presumptive Taxation Scheme (PTS) offers several benefits to small businesses and professionals:

1. Simplified Accounting: No need to maintain detailed accounts and records.
2. Estimated Income: Tax is calculated on an estimated income, rather than actual profits.
3. Reduced Compliance: No requirement to get accounts audited.
4. Lower Tax Liability: Tax is calculated at a prescribed rate.
5. Exemption from Tax Audit: No requirement to get tax audit done.
6. Easy Calculation: Profit is calculated on a fixed percentage of gross receipts.

No, you cannot obtain two Director Identification Numbers (DIN) for two companies. DIN is a unique identifier assigned to an individual who is a director or proposed to be a director of a company. If you want to be a director in two companies then you can use the same DIN for both companies.

Yes, it is mandatory to maintain records of all financial transactions for your business. The Companies Act, 2013 and the Income Tax Act, 1961, require businesses to maintain accurate and complete financial records and it should be accurate; up-to-date; easily accessible for inspection by authorities and must be retained for a minimum of 8 years.

Maintaining financial records helps:
1. Track business performance: Accurate records can help you track your business performance, identify opportunities and problems and compare your business to others.
2. Prepare financial statements: Accurate records are needed to prepare financial statements, such as income statements and balance sheets. These statements can help you manage your business and deal with creditors and banks.
3. File tax returns: Accurate records can help you comply with tax laws and avoid penalties.
4. Detect and prevent fraud: Accurate records can help prevent and detect fraud and theft.

Failure to maintain proper financial records can result in penalties, fines, and legal issues.


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