Application for STPI registration has to be made in the prescribed form to the Software Technology Park of India. Software Technology Parks of India was established and registered as an Autonomous Society under the Societies Registration Act 1860, under the Ministry of Electronics and Information Technology, (the then Department of Electronics) Government of India on 5 th June 1991 with an objective to implement STP Scheme, set-up and manage Infrastructure STPI - Bengaluru. of India has been set up with distinct focus to boost up Software export from the country.. STPI-Hyderabad is one of the ten STPI jurisdictions having its main centre in Hyderabad, Telangana and five sub-centres located at Kakinada, Tirupati . SOFTEX Certification for Software Exports; its necessity ... The bidder must be registered in India under The Companies Act, 1956 or The Companies Act 2013 (as amended till date) or The Limited Liability Partnership Act, 2008 (as amended till date), as applicable. The Non-STPI unit registered with STPI is required to submit quarterly and annual performance reports in the prescribed forms [8]. MeitY Organisations | Ministry of Electronics and ... STPI Registration Services - How to Register STPI Online ... STPI Scheme. Software Technology Parks of India (STPI), an autonomous society under Ministry of Electronics and Information Technology, Govt. request will reach STPI for executing the surveillance. The company is incorporated under the companies Act and governed by the provisions of the Companies Act, 1956. Society Registration. Key difference is under STPI unit , company is allowed to import duty free capital Goods. About Software Technology Parks of India (STPI) | Software ... Hvj & Associates FEMA act is overlooked by ED, so i guess yes. 2. Click here to visit STPI CRS Portal About Modified Surveillance Process The Government has notified the "Electronics and IT Goods (Requirement for Compulsory Registration) Order, 2012" mandating Indian Safety Standards for the notified goods under the ambit of Registration Scheme notified by BIS under the BIS Act, 1986. For getting the Softex certification by STPI (which is the Designated Authority), the companies have to become STP members by either registering under STP scheme or as NON-STP unit with STPI. There is no exemption to STPI registered unit from inspection by Labour Department. This section needs knowledge of the questions asked. Candidates can also download the Daily current affairs December 18 2021 in PDF format. STPI-Kolkata Centre become operational in 1995 and started providing statutory services to IT /ITeS units registered under the STP Scheme and hardware manufacturing units under EHTP Scheme. The following STPI registration processes are followed while applying for registration: Application form in the prescribed form Memorandum of Association Article of Association Detail of the project and business plan For other Enterprises the registration is optional. The court said that no FIR is to be registered under the provision of the Act as per directives of the Supreme Court. The Assessing Officer, while dealing with the claim of deduction under Section 10B of the Income Tax Act, found that the assessee had applied for registration as 100% EOU to Software Technology Parks of India (STPI) on 24.3.2005 and obtained approval only in May, 2005; hence, as per Circular No.1 of 2005 dated 06.01.2005 of the CBDT, the . EOU / STPI / EHTP Scheme, Registration, Procedures & Benefits Arvind Kumar joins Software Technology Parks of India ... Software Technology Parks of India (STPI) is an autonomous body under the Ministry of Electronics and Information Technology (MeitY), Government of India. NOTE: To register a STPI Goa unit, for further information, contact GCCI IT Committee member Mr Sanjiv Nadkarni on mobile no.9923796952, Email: sanjivnadkarni@hotmail.com. After registration, any enterprise becomes qualified to reap the benefits offered under the MSMED Act. Attached Offices of MeitY National Informatics Centre (NIC) Standardisation, Testing and Quality Certification (STQC) Directorate Statutory Organisations of MeitY Controller of Certifying Authorities (CCA) Indian Computer Emergency Response Team STPI - Software Technology Park of India | Ministry of ... Thus STPI Registrationhas become necessary for the export house in present scenario. EOU / STPI / EHTP: EOU Scheme - Export Oriented Unit Scheme: Export Oriented Unit Scheme is a unique scheme under which facility of Customs Act, Central Excise Act, and Foreign Trade Policy are combined and the scheme is crafted to provide maximum benefit to the exporter. 58 & 65 of Customs Act 1962. • STPI- Software Technology Parks of India. . Tax reimbursement from the Central Sales Tax Department. Firm doesn't have a separate legal entity like a company. Software Technology Parks of India (STPI) is a science and technology organisation headed by Omkar Rai. Capital Structure for proposed company [In case of companies registered under the Indian Companies Act, 1956] A. Under the existing provisions of section 10AA of the Income-tax Act, a deduction of hundred per cent. The procedure of STPI registration in India is quite elaborate and requires multiple compliances. STPI acts as 'single-window in providing services to the software exporters. Persons who have entered into a partnership with one another are called individual "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm-name". SEZ is a special scheme under Ministry of Commerce, as a part of the Government's export promotion strategy. Non - STP Unit and STP Unit. 3. MSME registration. with their overseas client for the registration with jurisdictional STPI office, as per clause No. There is the provision of 100% tax exemption under U/S 10A of the Income tax Act, 1961 with respect to the profits earned by the 100% Export Oriented Units up to 31-03-2009, registered with the software technology parks of India (STPI). is allowed in respect of profits and gains derived by a unit located in a Special Economic Zone (SEZ) from the export of articles or things or services for the first five consecutive assessment years; of fifty per cent. A trade mark can be a brand name, company name, logo or a combination of both. STPI was registered under the Charities Act (Cap 37) on 22 December 2000. SEZs are governed by the special Economic Zone Act, 2005 (Hereinafter referred . Micro, Small and Medium (MSM) Enterprises registration under MSMED Act is a powerful medium to enjoy the privileges. 3.3 Collection of Fees and Related Charges as Deposits: As per the provisions of the Section 16 G (2) of Information Technology has been identified as one of the growth areas by the government of Goa. registered under Indian Companies Act 1956 or Indian Companies Act 2013, or a firm registered under Indian Partnership Act 1932 or equivalent foreign law or STPI having core competency in constructing Office space (including IT) for sale/lease or for lease-cum-sale to Industry (including IT) for the purpose of IT activities by the IT Industry. Registration of IEM and other Units under STPI / EOU /EHTP scheme Arrangement of Custom Bonded Warehouse License U/s. If you are seeking to have Export Oriented Units then it is necessary to get complying with STPI registration. The STPI shall ensure completion of the surveillance process and proper fulfillment of norms and standards as laid under the BIS Act, 1986 and BIS Rules, 1987. . FinBlue is an initiative by STPI at Chennai to help provide resources such as mentoring, technology support and funding for FinTech start-ups. of India has been set up with a distinct focus to boost up Software export from the country. This registration is not yet made mandatory by the . Unless your company name registered under The Trademarks Act, they may be used or misused by any other person for marketing their business or any other purpose. Software Technology Park of India (STPI), an autonomous society under the Ministry of Communication and Information Technology, Dept. Please note that the STPI has issued a circular5 dated 12th March 2020 with the subject being enabling work from home for employees of STPI registered units due to break out of COVID-19. We have registered hundreds of companies under Non STPI and assisted in SOFTEX compliance matters. STPI's main objective has been the promotion of software exports from the country. 1.2 STPI seeks to develop Singapore as a leading player in the contemporary art world by Contribution to a Provident Fund plan is mandatory for a company having more than 20 employees. 7.Can a NON-STP operate from any location in the country? Act, in general refers to an entity registered under The Companies Act 1956/2013 or The Limited Liability Partnership Act, 2008. . under section 59 of the Partnership Act, 1932) or A society is registered under the Society Registration Act 1860 in India for legally running like an institution. STPI is fuelling the culture of tech entrepreneurship and innovation in the country by launching 25+ Centers of Entrepreneurship in emerging technology domains. To commence one , at-least two persons are required. It is crucial to consider third-party advice for establishing this form of registration. Micro and Small Enterprises: • STPI- Software Technology Parks of India. Who has to get registered under the Employees State Insurance? The process of STPI registration is maintained and administered under Indian Income Tax Act 1961 section of 10 A. Your second question is not clear to me. for further five . The bidder must be registered in India under The Companies Act, 1956 or The Companies Act 2013 (as amended till date) or The Limited Liability Partnership Act, 2008 (as amended till date), as applicable. Nevertheless, the companies registered under STP scheme will have other benefits apart from getting their Software Exports certified. STPI Registration Procedure. (ii) The bidder would be at liberty to bid for minimum of 100 seats (minimum 50 . For this the Entities need to register under the STPI scheme. FAQ's Who should register under […] 6 STPI Unit If yes, then are there any compliance requirements of Electronics and Information Technology, Govt. of Punjab, ISB-Mohali, PTU and MeitY, is a pioneering initiative to identify and evaluate promising startups in the field of AI/Data Analytics, IoT and AVG and nurture them to build path-breaking products and solutions in the domains the CoE focuses on. The company registered under STPI as NON-STP unit will be issued a Registration Certificate with a validity of 3 years by the respective jurisdictional STPI Director. STPI & Non-STPI Registration. Thus, while there may not be an immediate threat of non-compliance unlike the exporters in STP or SEZ, DTAs (Domestic Tariff units) are still encouraged to get registered under an STPI as a non-STP . 15th October 2013 From India, Mumbai Sec.11 - Association to be registered under the Companies Act, 1956 - Board Resolution "WHEREAS an association by the name and style, Textiles Association of India had been formed to promote, protect and safeguard the trade, commerce, interests and future of the Textile Industry in India particularly those of the Handmade Textiles And Small . The MSME became operational on October 02, 2006. Society is an association of persons or a group of individuals for a certain purpose. In 2021, STPI-Kolkata was formulated as the . STPI Introduction: Software Technology Parks of India was set up in 1991 as an autonomous society under the Ministry of Electronics and Information Technology (MeitY). Please refer RFP Para 3 "ELIGIBILITY CRITERIA" for detail. have STPI Departments. In India most of Major Cities Such as Pune, Mumbai , Noida , Delhi etc. This registration is crucial to carry out the license for technology parks in India. Tax exemption on 90% of the export turnover as per the Section 10A, Income Tax Act. PATTERN OF EQUITY SHARE HOLDING 96,861.85 IT/ITeS/ESDM exports. Click here to visit STPI CRS Portal About Modified Surveillance Process The Government has notified the "Electronics and IT Goods (Requirement for Compulsory Registration) Order, 2012" mandating Indian Safety Standards for the notified goods under the ambit of Registration Scheme notified by BIS under the BIS Act, 1986. of Electronics and Information Technology, Govt. In case you need our help on these matters, please mail to Prasad@balakrishnaandco.com or call us on 9845721255. Yes, STPI regulations permit employees of IT/ITeS units to work from home. Registration of Contract: Before commencement of software development activity for export, the unit are required to submit a self-certified copy of the Contract Agreement/ Work Order/ Purchase order etc. We have excellent expertise team of Chartered accountants in STPI registration services. Further, a copy of said contracts are also required to be enclosed. Basic steps for obtaining primary STPI registration are described hereunder-STEP 1 - Visit https . Non STPI and STPI. It was established in 1991 by the Indian Ministry of Electronics and Information Technology with the objective of encouraging, promoting and boosting the export of software from India. It is also an approved Institution of a Public Character ("IPC") under Charities Act (Cap 37). SEZ/EOU/STPI APPROVALS & COMPLIANCES. Notably, STPI registration is mandatory for obtaining the Softex certificate. These days, online STPI registration is gaining huge acceptance among all business leaders from across the country. The registration of contracts shall be undertaken prior to declaration of software exports under the said contracts. The accounts of every limited liability partnership shall be audited in accordance with these rules: Provided that a limited liability partnership whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty-five lakh rupees . Whereas, non-STP members can obtain STPI registration under the 'Non-STP' category. We provide following services: Startup Approvals: Approval to set-up new unit under SEZ/EOU/STPI, migration of existing units to SEZ/EOU/STPI; LLP Audit Section. 15-F-01 12. STPI NEURON, a Centre of Entrepreneurship in AI/Data Analytics, IoT and AVG, set up in collaboration with Govt. As it's like an organization, it needs to be registered as per the rules and regulations. While dismissing revenue's appeal, the Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has declared that assessee is entitled for deduction under Section 10B of the Income Tax Act 1961 even though it registered as a hundred percent Export Oriented Undertaking (EOU) under the Software Technology Park of India (STPI).… 7(a) of SOFTEX Form for declaration. STPI - Hyderabad. Exemption from Excise duty. Software Technology Park of India (STPI), an autonomous society under the Ministry of Communication and Information Technology, Dept. of India has been set up with a distinct focus to boost up Software export from the country. of India has been set up with distinct focus to boost up Software export from the country.. STPI-Bengaluru has been the backbone for the growth of software and hardware industry in Karnataka since last three decades and has enabled Bengaluru to . A distinctive feature of this STP/EHTP scheme is that it provides single point . (Intimation for procurement of supplies from the registered person by Export Oriented Unit (EOU)/Electronic Hardware Technology Park (EHTP) Unit/ Software Technology Park (STP) unit/ Bio-Technology Parks (BTP) Unit under deemed export benefits under section 147 of CGST Act,2017 read with Notification No.48/2017-Central Tax dated 18.10.2017) STPI registration services are widely available by leading trademark and corporate lawyers in the country for registering all upcoming STPI's under the section of 10 A of the Indian Income Tax Act 1961. The Assessing Officer, while dealing with the claim of deduction under section 10B of the Income-tax Act, found that the assessee had applied for registration as a 100 per cent, economic oriented undertaking to the Software Technology Parks of India (STPI) on March 24, 2005, and obtained approval only in May, 2005; hence, as per Circular No. Software Technology Parks of India was established and registered as an Autonomous Society under the Societies Registration Act 1860, under the Ministry of Electronics and Information Technology, Government of India on 5 th June 1991 with an objective to STPI's are 100% tax exempted units registered under the section of 10A of the Income Tax Act, 1961 in India. (as defined in the Companies Act, 2013) or; Registered Partnership Firm (Regd. The Software Technology Parks of India (STPI), an autonomous society of MeitY has been designated as the Nodal Agency for implementation of the NEBPS. It is recommended to all the enterprises to opt for the registration considering the benefits available under Act 1. Cluster of leading institutions in the region. SOFTWARE TECHNOLOGY PARKS OF INDIA (STPI), an autonomous society registered under the societies Registration Act, 1860, having its Head office at the premises of 9th Floor, NDCCII, Building, Jai Singh Road (Opposite Jantar Mantar), New Delhi-110001, hereinafter referred to as the "LICENSOR", which expression unless repugnant to the context . No compnay is exempted to this including STPI registered IT Units. Hence STPI registration can be taken for any location. Over the years, STPI-Pune has played a very important role to promote the region as a preferred IT destination and act as single window agency for IT/ITeS industry by putting new milestones in IT exports of the state. SEZ is a special area, subject to regulations that differ from the rest of the country, mainly to make it favorable for foreign exchange inflow into India. All business or establishments employing 10 or more persons during any part of the year has to get themselves registered under Employee State Insurance (ESI) Act. Regards / Chennai.Ibrahim. It was established to promote, facilitate and develop the competitiveness of the micro, small and medium enterprises. 1 . NOTE: To register a STPI Goa unit, for further information, contact GCCI IT Committee member Mr Sanjiv Nadkarni on mobile no.9923796952, Email: sanjivnadkarni@hotmail.com. STPI is an abbreviation for software technology parks of India. IT units can derive additional benefits if they are registered under STPI. There is a 100% tax exemption U/S 10A of the Income tax Act, 1961 with respect to the profits earned by the 100% Export Oriented Units up to 31-03-2009, registered with the software technology parks of India (STPI). Both the employee and the employer must each pay an amount equal to 12% of a portion of the employee's base compensation into the Provident Fund plan. A registered society can form a consortium with an eligible entity (registered under Companies Act 1956/2013 or LLP Act 2008). Information Technology has been identified as one of the growth areas by the government of Goa. It has two units i.e. LLP Audit is applicable as per Section 24(8) in The Limited Liability Partnership Rules, 2009. Act 2008) will be considered as the bidder/lead partner 2 We are NGO registered society act 1860. we are eligible to apply (IBPS) scheme? We act as one stop consulting solution to all requirements of a SEZ/EOU/STPI registered unit or the unit which is proposing to become such unit. SEZ is a special scheme under Ministry of Commerce, as a part of the Government's export promotion strategy. In FY 2020-21, STPI-registered units under STPI-Pune jurisdiction contributed Rs. Registered Valuer under the Companies Act. Digital Marketing would fall under IT enabled service. Benefits of STPI/Non STPI registration Having a STPI/Non STPI registration enables you to draw multifarious benefits: Exemption from Custom duty. (ii) The bidder would be at liberty to bid for minimum of 100 seats (minimum 50 . The MSME registration process in India has been conceptualized to provide maximum benefits to all types of enterprises. In this fast growing world of Electronics and Information Technology, Software Technology Parks of India (STPI) scheme has been announced by the Government vide RBI master circular no 2013-14/14 dated July 01,2013.Accordingly, the Software and IT enabled Exporters are required to get their Invoices Certified through SOFTEX Forms. It may also act as a deterrent to future clients of the company if they are not able to show their export performance related to software projects. Companies Act, 2013 requires the Valuation report to be obtained at various events like raising of capital by preferential allotment or Private Placement, Issues of shares for consideration otherthan cash, Issue Sweat Equity Shares. The entities can register under the MSME act based on certain defined parameters mentioned in the MSME Act. Software Technology Parks of India (STPI) is a society established in 1991 by the Indian Ministry of Electronics and Information Technology with the objective of encouraging, promoting, and boosting the export of software from India. Sec.11 - Association to be registered under the Companies Act, 1956 - Board Resolution "WHEREAS an association by the name and style, Textiles Association of India had been formed to promote, protect and safeguard the trade, commerce, interests and future of the Textile Industry in India particularly those of the Handmade Textiles And Small . SEZ is a special area, subject to regulations that differ from the rest of the country, mainly to make it favorable for foreign exchange inflow into India. under section 59 of the Partnership Act, 1932) or . The Petitioner Company is neither a scheduled employment nor governed by Delhi Shops & Establishment Act. The ESI coverage extends to all the employees who earns a monthly salary upto Rs.21000/-. There are two kind of registrations provided one is STPI and Second is NON STPI Unit. . It involves foreign inward remittances. Renewal of registration will have to be applied three months prior to the expiry of the registration. EOU / STPI / EHTP: EOU Scheme - Export Oriented Unit Scheme: Export Oriented Unit Scheme is a unique scheme under which facility of Customs Act, Central Excise Act, and Foreign Trade Policy are combined and the scheme is crafted to provide maximum benefit to the exporter. Arrangement of all permissions like Import Certificate, Procurement Certificate, CT3 Certificate and Re warehousing Certificate for the Duty Free Import and Excise Free Local Procurement of Goods Start-ups registered with DPIIT under the start-up India programme . Justice Rajesh Singh Chauhan observed, "I put my note that this case is a clear-cut example of non-application of mind by the investigating officer who has filed a charge sheet on Section 66A of the IT Act, 2008 which has . Software Technology Parks of India (STPI), an autonomous society under Ministry of Electronics and Information Technology, Govt. Hence third-party consultants must be utilized to make the whole process of registration seamless. For example, after provincial registration an enterprise can seek financial credit and also other facilities like land . . STP members need to obtain STPI registration under the 'STP' category. The Current Affairs section plays a major role in determining your success in the examination. My CA told me STPI is only for registered entities, companies and such not for individuals. FAQ's Who should register under […] The 100% Export Oriented Unit scheme (STP scheme) is made for setting up of software development and IT Enabled Services (ITES) firm in India for 100% Export. registered under Indian Companies Act 1956 or Indian Companies Act 2013, or a firm registered under Indian Partnership Act 1932 or equivalent foreign law or STPI having core competency in constructing Office space (including IT) for sale/lease or for lease-cum-sale to Industry (including IT) for the purpose of IT activities by the IT Industry. SEZs are governed by the special Economic Zone Act, 2005 (Hereinafter referred . Furthermore the Petitioner is a consultancy company having no factory but a call centre registered under STPI. So, Practice Daily current affairs today provided here on a daily basis. 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