11 resources from IncorpX we point founders to, and the questions each answers.
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Why we picked it
This is the one map of the full non-dilutive stack in India, with real names next to every option: RBF providers (GetVantage, Velocity, Klub, BridgeUp), venture debt funds (InnoVen, Trifecta, Stride, Alteria), grants (Startup India Seed Fund at Rs 20-50 lakh, NIDHI), state schemes (Karnataka Elevate, Kerala KSUM, Telangana T-Hub), plus MUDRA, CGTMSE, invoice financing and TReDS. Start here to see what actually exists before you take a single call.
The Startup India Seed Fund Scheme gives up to Rs 20 lakh as a non-repayable grant for proof-of-concept, no equity given up, but expect a 3 to 6 month timeline through an empaneled incubator
Every major Indian city has its own state scheme (Elevate, KSUM, T-Hub, MSINS, iCreate, TANSEED), so grant money is not only a metro-founder game
Beyond grants, invoice financing (KredX, M1xchange, TReDS) and customer advances are the fastest non-dilutive cash if you already have receivables
Why we picked it
If you decide against VC, this is the concrete India-specific menu of non-dilutive money: it lists the actual schemes, amounts, and eligibility rather than hand-waving about "grants exist." It walks the Startup India Seed Fund Scheme (up to 20 lakh grant plus 50 lakh convertible debt), MUDRA collateral-free loans, CGTMSE credit guarantees, Stand-Up India, and BIRAC, and it names DPIIT recognition as the gateway that unlocks most of them. Use it as a checklist to see which of these you already qualify for before giving away any equity.
DPIIT Startup India recognition is free and the prerequisite that unlocks tax exemptions and eligibility for most central schemes, so register first.
The Seed Fund Scheme gives DPIIT-recognised startups under two years old up to 20 lakh as a non-dilutive grant for proof of concept plus up to 50 lakh as convertible debt.
Beyond grants, MUDRA (up to 20 lakh), CGTMSE credit guarantees, and Stand-Up India offer collateral-free debt routes that keep you fully founder-owned.
Why we picked it
Before you can model revenue, you have to understand the rules that decide what revenue is even allowed, and this guide lays out the RBI framework in plain founder language. It explains the September 2022 digital lending circular, the 5 percent cap on FLDG (and that it must be real cash or a bank guarantee, not a soft promise), the LSP and DLA roles for founders without their own license, and the NBFC registration path with actual cost and timeline estimates. Read it as the regulatory foundation, then pressure-test your assumptions against it.
You either register as an NBFC (about 2 crore minimum net owned funds, a multi-month RBI process) or partner with a regulated entity as a Lending Service Provider.
FLDG (your promise to cover early defaults) is now capped at 5 percent of the sourced portfolio and must be held as cash, deposit, or bank guarantee.
Funds must flow directly between the borrower and the regulated lender, which shapes how and where a platform can legitimately earn its fees.
Why we picked it
This puts the transfer restrictions in their real home: the Indian SHA, alongside the lock-in, board consent and reserved-matters clauses that actually make the restriction enforceable under the Companies Act. It walks all 14 clauses a founder team should write in from day one, so you see how ROFR, tag, drag and a 3 to 5 year founder lock-in fit together.
Frames ROFR, tag-along and drag-along as one interlocking transfer-control system rather than isolated clauses, plus board consent via reserved matters
Founders in India are typically locked in for 3 to 5 years, which is your first line of defense against a co-founder cashing out early to an outsider
Enumerates all 14 SHA clauses (vesting, board composition, anti-dilution, exit) so nothing load-bearing gets left out of your first draft
Why we picked it
The India-specific piece your set needs. It spells out exactly how a founder-director who defers salary in the early years should record it: a board resolution setting the terms, waiver or deferral noted in the minutes, and the amount reflected in the financial statements (AOC-4). It also flags that deferred salary stays deductible when finally paid if it is reasonable and tied to real work, with Section 40A(2) risk on disproportionate amounts. This is the CA-level mechanics for keeping deferred pay a clean liability on Indian books.
Private companies face no Section 197 remuneration ceiling, so founder pay is set by the board and articles, giving room to run a modest salary while equity stays split on contribution.
A deferred or waived founder salary must be documented in board minutes and shown in the financial statements (AOC-4, MGT-7), i.e. tracked as a company payable, not a cap-table entry.
Deferred salary remains tax-deductible when eventually paid if reasonable and tied to services rendered; disproportionate amounts can be disallowed under Section 40A(2).
Why we picked it
The honest India price tag on a Private Limited Company you incorporated too early. It itemizes what a company costs you every year even with zero revenue: ROC annual filing (AOC-4, MGT-7), a mandatory statutory audit, income tax and GST returns, bookkeeping, and per-director DIR-3 KYC, adding up to roughly Rs 61,000 to Rs 2,31,000 a year. It also flags that non-filing penalties run Rs 100 per day per form with no cap. This is why an idea in a Google Doc should not have a CIN yet.
A Pvt Ltd in India costs roughly Rs 61,000 to Rs 2,31,000 a year in compliance regardless of revenue: ROC filing, statutory audit, GST, income tax, bookkeeping, and DIR-3 KYC
A statutory audit and annual ROC filings (AOC-4, MGT-7) are mandatory from year one, so the auditor and filing fees start the moment you incorporate
Late ROC filing carries a penalty of Rs 100 per day per form with no maximum cap, and three years of missed annual returns can disqualify directors for five years
Why we picked it
The side-by-side an Indian founder actually needs: a compliance matrix and a 5-year cost table for both entities, written from the dual-jurisdiction reality most Indian founders live in. Its sharpest point is counterintuitive: a US entity has fewer entity-level filings, but an Indian resident owner ends up with MORE total obligations because you stack US filings (5472, state report, registered agent) on top of Indian ones (FEMA, Schedule FA, 15CA/15CB).
A US entity looks lighter on paper (300 to 800 a year) but an India-resident owner adds FEMA reporting, Schedule FA, and 15CA/15CB on the Indian side, so the real filing load is US plus India, not US instead of India
India Pvt Ltd carries the heavier standalone burden: 4 mandatory board meetings a year, statutory audit, and ROC filings that a US LLC simply does not require
Pick the structure by where your team, investors, and revenue sit; the recurring compliance stack, not the formation fee, is what you are signing up for
Why we picked it
This is the money-and-clock reality check. It itemizes the cost (roughly USD 15,000 to 50,000, i.e. 12.5 to 42 lakh, plus USD 5,000 to 15,000 a year in ongoing compliance) and phases the timeline into 3 to 6 months, then names the exact tax traps: transfer pricing under Sections 92 to 92F with a mandatory Form 3CEB, POEM risk under Section 6(3), and the India-US DTAA withholding on royalties and interest. It answers 'what will this actually cost me and where does the tax bite' in specifics, not vibes.
From
IncorpXby IncorpX (India cross-border compliance firm)18 min read
Budget 12.5 to 42 lakh up front plus USD 5,000 to 15,000 every year afterward, and expect 3 to 6 months (longer with a messy cap table), which is why doing it before your ARR crosses USD 100k is usually a waste of runway
Once the Delaware parent owns the Indian subsidiary, every intercompany dealing is a transfer-pricing transaction: you file Form 3CEB annually and must benchmark the IP and services at arm's length
Watch POEM under Section 6(3): if the Delaware company is really run from India, the tax department can treat it as an Indian resident and tax its global income, defeating the whole point
Why we picked it
This is the cleanest walkthrough of the seven concrete steps to strike off a Pvt Ltd via Form STK-2 (board resolution, special resolution or shareholder consent, compliance clearance, indemnity bond plus affidavit, STK-2 filing, the 30-day public notice, strike-off order). It names the exact forms you must clear first (AOC-4, MGT-7A, final ITR, TDS) and states plainly that voluntary strike-off carries no consequences while abandoning the company invites disqualification, which is precisely the trap founders walk into.
Striking off is a defined seven-step filing under Section 248, not just going quiet: board resolution, shareholder consent, indemnity bond, STK-2, then a 30-day gazette objection window
You must clear all overdue AOC-4, MGT-7A, final ITR and TDS before STK-2 is even eligible, so the backlog gets filed on the way out, not skipped
A clean voluntary strike-off does not disqualify directors, but letting the ROC strike you off for non-filing does, so close it yourself before the ROC acts
Why we picked it
Where the first guide walks the STK-2 steps, this one is the pre-closure checklist that keeps the strike-off from bouncing: cancel GST on the portal and file GSTR-10 within three months of cancellation, clear every pending AOC-4 and MGT-7A, and understand that non-filing for three consecutive years triggers Section 164(2)(a) disqualification for five years. Its comparison table draws the exact line between a clean voluntary exit and an ROC-initiated compulsory strike-off that torches your directorships.
Why we picked it
This maps the second layer of R&D support to your build stage exactly the way you should think about it: NIDHI-PRAYAS and TIDE 2.0 for a prototype, BIRAC BIG (up to Rs 50 lakh, non-dilutive) at proof-of-concept, BIRAC SBIRI and iDEX once you have a provable milestone, with DSIR recognition unlocking the 200% weighted R&D tax deduction. It also shows how founders legitimately stack these grants as a ladder rather than chasing one headline cheque.
Applied R&D money is stage-gated: prototype grants (NIDHI-PRAYAS, TIDE 2.0) come before proof-of-concept grants (BIRAC BIG), which come before scale-up grants (SBIRI, iDEX).
BIRAC BIG offers up to Rs 50 lakh non-dilutive for 18 months, aimed squarely at a lab-provable or tech-provable milestone rather than a pitch deck.
DSIR recognition of your in-house R&D unit unlocks a weighted R&D tax deduction, a cash saving founders routinely miss because it sits outside the grant headlines.
