Advertise With Us

    80IAC Startup Tax Benefit

    Posted By : Kamal / Published on : 26-Aug-2021 12:47 PM / View : 977 / Comment : 1

    Print button
    Hello Friends,

    Anyone here who deals in 80 IAC?
    Read more on : benefit startup 80iac

    • Section 80IAC of the Income Tax Act, 1961 provides tax benefits to eligible startups. This section was introduced in the Finance Act 2016 to promote entrepreneurship and encourage startups in India.

      As per this section, a startup company that is incorporated on or after 1st April 2016 and before 1st April 2022 can claim a deduction of an amount equal to 100% of its profits and gains derived from eligible business for a period of three consecutive assessment years out of seven years, beginning from the year in which the company is incorporated.

      The eligible business for the purpose of this section means a business carried out by an eligible startup engaged in innovation, development or improvement of products or processes or services, or a scalable business model with a high potential of employment generation or wealth creation.

      However, the maximum duration for claiming this tax benefit is up to 7 years from the date of incorporation of the startup.

      10-04-2023 / 12:13:27 PM
      Reply
    Please Select File:



Other Queries from Kamal
Like us on Facebook
Follow Us on Twitter

We are always here to help you. Don’t hesitate to contact us anytime!

+91-9988424211 or ask@compliancecalendar.in