Section 80IAC

Empowering Innovation: Unveiling the Potential of Startup Culture in India

Finance - Explore transformative journey of Startup India, catalyzing innovation and economic growth. Learn about eligibility, benefits, and exemptions for startups under Indian regulations....

Unlocking Economic Potential: A Deep Dive into Tax Holidays

Finance - Discover the benefits and workings of tax holidays, their impact on foreign investment, economic activities, and the key sections like 10AA and 80 IAC in India. ...

Tax Illusion: Unraveling the Reality of Startup Deductions

Finance - Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicated team managing many programs & governing initiative with this post....

Tax benefits for Start-ups in India: Section 80-IAC of Income Tax Act,1961

Finance - Startups in India can reap tax benefits from Section 80-IAC of Income Tax Act. Learn more about FAQs on tax incentives for startups in India....

Understanding Startup Eligibility and Associated Tax Benefits

Finance - Explore the criteria for startup eligibility in India and the tax benefits they can avail. Dive into the intricacies of DPIIT recognition and tax exemptions....

4 Major Tax Exemptions to Startups

Finance - 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemption on Investments above Fair Market Value, Introduction of Section 54EE in the Income Tax Act, 1961 and Amendment in Section 54GB of the Income-tax Act....

Sec. 79 Carry forward and set off of loss in case of eligible startups: Provide further relaxation

Finance - The Finance Act, 2017 amended section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act...

Revisionary proceedings u/s 263 justified as order passed without proper inquiry and verification

Sudhir Vrundavandas Valia Vs PCIT (ITAT Mumbai) - ITAT Mumbai held that initiation of revisionary proceedings u/s 263 of the Income Tax Act justified as assessment order was passed by AO without proper inquiry and verification with regard to claim of deduction u/s. 80IA(4)....

100% Section 80IAC deduction on Substantial Expansion after Expiry of 5 Years of setting up of new industry

Spinks Impex Vs ITO (ITAT Delhi) - Spinks Impex Vs ITO (ITAT Delhi) Hon’ble Apex court in the matter of PCIT vs. Aarham Softronics [2019] 102 com 343 (SC), pronounced on 20-02-2019. Wherein, it was held an assessee availing exemption of 100% tax on setting up of a new industry, which is admissible for 5 years, and either on the exp...

Hiring of certain machineries from sister concern not amounts to transfer for Section 80J(4)(ii)

Sundaram Non-Conventional Energy Systems Limited Vs ACIT (Madras High Court) - The decision of the Hon'ble Supreme Court in Bajaj Tempo Ltd. (supra), was followed in CIT vs.Nayyars Minerals Export (P.) Ltd. reported in (1998) 231 ITR 864 (HP), wherein it was held that hiring of certain machineries from sister concern would not amount to transfer as provided under Section 80J(4...

Section 80IAC deduction allowable on sale of scrap

ACIT Vs Finolex Cables Limited (ITAT Pune) - ACIT Vs Finolex Cables Limited (ITAT Pune) The solitary issue involved in the appeal of the Revenue for A.Y. 2012-13 relating to the assessee‟s claim for deduction u/s 80IC of the Act in respect of sale of scrap is squarely covered in favour of the assessee by various decisions of Tribunal rendere...

CBDT issues clarification on eligibility of small Start-ups to avail tax holiday

NA - (22/08/2019) - The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961(the ‘Act’), which provides deduction for 100 per cent of income of an eligibl...

Recent Posts in "Section 80IAC"

Empowering Innovation: Unveiling the Potential of Startup Culture in India

Explore transformative journey of Startup India, catalyzing innovation and economic growth. Learn about eligibility, benefits, and exemptions for startups under Indian regulations....

Posted Under: Finance |

Unlocking Economic Potential: A Deep Dive into Tax Holidays

Discover the benefits and workings of tax holidays, their impact on foreign investment, economic activities, and the key sections like 10AA and 80 IAC in India. ...

Posted Under: Finance |

Tax Illusion: Unraveling the Reality of Startup Deductions

Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicated team managing many programs & governing initiative with this post....

Posted Under: Finance |

Tax benefits for Start-ups in India: Section 80-IAC of Income Tax Act,1961

Startups in India can reap tax benefits from Section 80-IAC of Income Tax Act. Learn more about FAQs on tax incentives for startups in India....

Posted Under: Finance |

Revisionary proceedings u/s 263 justified as order passed without proper inquiry and verification

Sudhir Vrundavandas Valia Vs PCIT (ITAT Mumbai)

ITAT Mumbai held that initiation of revisionary proceedings u/s 263 of the Income Tax Act justified as assessment order was passed by AO without proper inquiry and verification with regard to claim of deduction u/s. 80IA(4)....

Understanding Startup Eligibility and Associated Tax Benefits

Explore the criteria for startup eligibility in India and the tax benefits they can avail. Dive into the intricacies of DPIIT recognition and tax exemptions....

Posted Under: Finance |

Tax planning while setting up of a business with reference to location

Tax planning while setting up of a business with reference to location (2021-2022 A.Y, A.Y 2022-2023 , A.Y 2023-2024  and A.Y 2024-2025)...

Posted Under: Finance |

Tax Holidays for Startups

Encourage startup growth with Tax Holidays. Learn about Section 80 IAC offering tax exemption for 3 years. Recent budget 2023 amendments explained....

Posted Under: Finance |

Section 80-IAC deduction- Incorporation date extended for eligible start-up

Budget 2023 amends Section 80-IAC to extend the period of incorporation of eligible start-ups to 1st day of April 2024....

Posted Under: Finance |

Decoding section 80IAC of Income Tax Act 1961

Section 80IAC of the Income Tax Act, 1961 is an important provision for startups and small businesses looking to avail tax benefits. As per the section, a person is eligible for a deduction for profits for any one assessment year out of 10 assessment years....

Posted Under: Finance |

Browse All Categories

CA, CS, CMA (6,867)
Company Law (10,059)
Corporate Law (13,520)
Custom Duty (10,814)
DGFT (5,155)
Excise Duty (5,616)
Fema / RBI (5,764)
Finance (6,484)
Income Tax (49,798)
SEBI (5,332)
Service Tax (4,889)