Section 80IAC

Startup Recognition & Tax Exemption

Income Tax - Startup Recognition & Tax Exemption Under the Startup India Action Plan, startups that meet the definition as prescribed under vide G.S.R. 127(E) dated 19th February, 2019 are eligible to apply for recognition under the program. The Startups have to provide supporting documents, at the time of application. Eligibility Criteria for Sta...

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Start-ups: Registration, benefits & lower income tax rate of 15%

Income Tax - This article explains meaning of Eligible start-up, process of recognition of an entity as eligible start-up, various benefits available to a startup and related procedural & legal aspects Section/ Notification Provision Explanation (i) & (ii) to section 80-IAC Read with Notification dt. 19 Feb. 2019       “El...

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Valuations and Taxation aspects for Start-Up

Income Tax - VALUATION OF SHARES FOR COMPANY REGISTERED UNDER STARTUP INDIA WITH MINISTRY OF COMMERCE & INDUSTRY: – Valuation of equity shares is generally required for regulatory or financial reporting purposes for a business. In valuation of shares, the underlying asset is the business and per share value is calculated to arrive at the fin...

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Startup And Sweat Equity Shares

Income Tax - Startup: Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. Who can be registered as Startup? Private Limited Company Registered Partnership Fi...

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Eligibility, Tax exemptions & Incentives to Startup

Income Tax - Under the Startup India Action Plan, startups that meet the definition as prescribed under G.S.R notification 127(E) are eligible to apply for recognition under the program. If the startup falls under the criteria of Eligible Startup then it will be eligible to avail exemptions and benefits as mentioned in above notification....

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4 Major Tax Exemptions to Startups

Income Tax - 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....

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

Income Tax - 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...

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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...

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Recent Posts in "Section 80IAC"

Startup Recognition & Tax Exemption

Startup Recognition & Tax Exemption Under the Startup India Action Plan, startups that meet the definition as prescribed under vide G.S.R. 127(E) dated 19th February, 2019 are eligible to apply for recognition under the program. The Startups have to provide supporting documents, at the time of application. Eligibility Criteria for Sta...

Read More
Posted Under: Income Tax |

Start-ups: Registration, benefits & lower income tax rate of 15%

This article explains meaning of Eligible start-up, process of recognition of an entity as eligible start-up, various benefits available to a startup and related procedural & legal aspects Section/ Notification Provision Explanation (i) & (ii) to section 80-IAC Read with Notification dt. 19 Feb. 2019       “El...

Read More
Posted Under: Income Tax |

Valuations and Taxation aspects for Start-Up

VALUATION OF SHARES FOR COMPANY REGISTERED UNDER STARTUP INDIA WITH MINISTRY OF COMMERCE & INDUSTRY: – Valuation of equity shares is generally required for regulatory or financial reporting purposes for a business. In valuation of shares, the underlying asset is the business and per share value is calculated to arrive at the fin...

Read More
Posted Under: Income Tax |

Startup And Sweat Equity Shares

Startup: Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. Who can be registered as Startup? Private Limited Company Registered Partnership Fi...

Read More
Posted Under: Income Tax |

Eligibility, Tax exemptions & Incentives to Startup

Under the Startup India Action Plan, startups that meet the definition as prescribed under G.S.R notification 127(E) are eligible to apply for recognition under the program. If the startup falls under the criteria of Eligible Startup then it will be eligible to avail exemptions and benefits as mentioned in above notification....

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Posted Under: Income Tax |

Recognition and Benefits for Startups including Tax Benefits

Startup India Scheme is an initiative by the Government of India under leadership of Mr. Narendra Modi for generation of employment and wealth creation. The goal of Startup India is to develop and innovate products and services and increase the employment rate in India. To promote growth and help Indian economy, many benefits are being g...

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Posted Under: Income Tax |

Benefits for start-ups under income tax act

Startup India is a flagship initiative of the Government of India which launched on 16th January, 2016, the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. These program...

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Posted Under: Income Tax |

Startup Registration With DPIIT, Section 80IAC & other tax exemption

In this Editorial the author shall elaborate the procedures for registration of an entity under ‘Startup India’, an initiative by the Government of India launched in January 2016. Through this scheme, the government is looking forward to driving sustainable economic development and enhance employment opportunities in India.  ...

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Posted Under: Income Tax |

Formation of Start up in India | Definition & Tax Benefits

Start up is the policy measure of the government of India, Ministry of Commerce and Industry to give stimulus and boost to the Innovative Talents to set up the business. These start up needs to get registered with Department of Industrial Policy and Promotion (DIPP) which will grant them a certificate, if all the conditions […]...

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Posted Under: Income Tax |

Start-up Recognition | Section 80IAC Tax Deduction | FAQs

A startup is a company or project initiated by an entrepreneur to seek, effectively develop,and validate a scalable business model. STARTUP A startup is a company or project initiated by an entrepreneur to seek, effectively develop, and validate a scalable business model. While entrepreneurship refers to all new busines...

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Posted Under: Income Tax |

Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption (After Union Budget 2020)

Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption (After Union Budget 2020) Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Since the launch of the initiative on 16...

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Posted Under: Income Tax |

Carry forward & set off of losses when changes in shareholding takes place

The existing provisions of section 79 of the Act, inter-alia provides 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,...

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Posted Under: Income Tax |

Period & Turnover for eligibility of section 80-IAC deduction for start-ups

Increasing the time period and Turnover for eligibility of section 80-IAC for start-ups Rationalization of provisions of start-ups. The existing provisions of section 80-IAC of the Act provide for a deduction of an amount equal to one hundred per cent of the profits and gains derived from an eligible business by an eligible start-up for [...

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Posted Under: Income Tax |

Decoding the Lesser Talked About Nuances of Finance Bill 2020

First prima-facie impression and euphoria of the Union Budget 2020, especially the Finance Bill 2020, appeared to be of one a taxpayer-pro budget, with the Queen (Read FM), giving copiously to her masses. But is this euphoria for a real?...

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Posted Under: Income Tax |

Budget 2020- Demystifying hidden elements behind Budget Speech

Hello everyone, hope you all are doing well. This blog focuses on exploring the unknown elements of the Union Budget 2020-21 and analyses impact of proposed changes in Tax on Indian economy. Nirmala Sitharaman (Finance Minister (FM)) played very safely in his debut budget last time and kept distance from crucial issues to serve justice [&...

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Posted Under: Income Tax | ,

ESOP Tales of Startups- Taxability Then and Now

Employee stock options (ESOP) are part of an Employee benefits program offered by Startups to engage the employees in a more effective manner. The ESOPs issued to the employees provide them the benefit or right to purchase the shares of the Employer company, at a predetermined price, in a future date. Widely considered as a […]...

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Posted Under: Income Tax |

4 Major Tax Exemptions to Startups

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....

Read More
Posted Under: Income Tax |

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 eligible start-up for 3 years […]...

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Form 80IAC Startup India

STARTUP RECOGNITION: Under the Startup India Action Plan, startups that meet the definition as prescribed under G.S.R. notification 127 (E) are eligible to apply for recognition under the program. The Startups have to provide support documents, at the time of application. Eligibility Criteria for Startup Recognition: The Startup should be...

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Posted Under: Income Tax |

Startup India Registration – Steps To Register Your Startup

What is a startup? A startup is a small business started with the objective to solve a problem. These are the companies which are generally operated by the founders or a single person. These companies are generally offering those services which the founders think are not available or are available in an inferior quality. Startups provide...

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Posted Under: Income Tax |

10 most important changes made to tax & Regulatory framework for startups in 2018

10 most important changes made to tax & Regulatory framework for startups in 2018 According to Merriam and Webster, startups means to act of setting in operation or motion. In business terminology, the startups are the young companies which are incorporated by founders or individual to offer a product or service which is not available...

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Posted Under: Income Tax |

Section 80IAC tax deduction for Start Ups- Relaxed Conditions

Section 80-IAC of the Act, inter alia, provides that deduction under this section shall be available to an eligible start-up for three consecutive assessment years out of seven years at the option of the assessee...

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Posted Under: Income Tax |

Jaitley ki Empty Potley- Detailed analysis, interpretation & planning on Tax Provisions of Budget 2018

Hope is the only thing which drives us to look forward despite of all the sufferings we are going from. Who are We? We THE COMMON MAN. Budget 2018 is nothing but it was a last hope from this government term of 5 years, to get us some ointment on our healing wounds of compliances and harassment of tax policies. ...

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Posted Under: Income Tax |

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

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...

Read More
Posted Under: Income Tax |

Carry forward & set off of loss of eligible start-ups; Further relaxation needed: ICAI

The Finance Bill, 2017 proposes to amend 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...

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Posted Under: Income Tax |

Budget 2017: Adding more pace in the Start-Up Space

The budget 2017 has proposed changes to the tax legislation which aims to further incentivize the start-up companies. This article aims to provide an insight to some of the significant tax proposals having an impact in the start-up segment....

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Posted Under: Income Tax |

38 Important Amendment in brief Income Tax : Finance Bill 2016

.e.f 1st June 2016 in order to curb black money , the Seller of any goods or services have to collect Tax collected at source (TCS) @ of 1% from the buyer if the mode of payment is by cash on the following : - On sale of Motor Vehicles, the value of which is exceeding 10 Lakhs. On sale of any Goods except bullion & Jewellery the valu...

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Posted Under: Income Tax | ,

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