Income Tax : Learn how taxpayers can set off losses against taxable income and carry forward unadjusted losses under the Income-tax Act. The FA...
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 : 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 ITAT Pune held that Section 80-IAC does not require startups to complete three years before claiming the deduction. It directe...
Income Tax : The ITAT Delhi ruled that reimbursement of software costs to foreign AEs on a cost-to-cost basis could not be treated as a profit-...
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 : The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to...
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).
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.
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 […]
