Income Tax : This guide explains eligibility, documentation, and application steps for claiming tax exemption under Section 80-IAC. It highligh...
Income Tax : The eligibility period for startup tax exemption has been extended to March 31, 2030. Startups must meet DPIIT and compliance cond...
Income Tax : Learn the rules for set off and carry forward of income tax losses in India. Covers intra-head and inter-head adjustments, restric...
Income Tax : Eligible Indian startups can get 100% income tax exemption for 3 years under Section 80-IAC. Learn eligibility, DPIIT recognition,...
Income Tax : Indian startups can claim 100% income tax exemption for three consecutive years within their first decade. Learn about DPIIT recog...
Income Tax : On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for t...
Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...
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 ...
Income Tax : The Tribunal held that non-filing of Form 10CCB along with return is a curable defect. A genuine start-up cannot be denied deducti...
Income Tax : ITAT Delhi rules that delay in uploading Form 10CCB is procedural, not substantive. Start-ups can claim 80IAC deduction if the aud...
Income Tax : ITAT Pune rules in favor of Roshan A Kudalkar, rejecting tax additions based on closing stock discrepancies and allowing the claim...
Income Tax : ITAT Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Mumbai held that initiation of revisionary proceedings u/s 263 of the Income Tax Act justified as assessment order was passed...
Income Tax : The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to...
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)
Encourage startup growth with Tax Holidays. Learn about Section 80 IAC offering tax exemption for 3 years. Recent budget 2023 amendments explained.
Budget 2023 amends Section 80-IAC to extend the period of incorporation of eligible start-ups to 1st day of April 2024.
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.
One of the key components of Startup India program is Section 80IAC of the Income Tax Act which provides tax incentives for startups. Section 80IAC of the Income Tax Act provides tax benefits to eligible startups for their first three years of operations.
Section 80-IAC of Income Tax Act, 1961 provides a tax incentive to domestic companies for promoting investments in startups and other eligible businesses.
GOI grants various tax exemptions and benefits which an eligible start-up can avail of. Let’s understand first meaning of an eligible Startup.
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 expiry of […]
Learn about carry forward and set off of losses in case of closely held companies under Section 79. Understand the conditions for carrying forward losses and make informed financial decisions.
Understanding the concept of Angel Tax & its taxability under the Income Tax Act 1961. Learn how it impacts entrepreneurs and new ideas.
