Income-tax Act, 1961
Section - 80-IAC - Special provision in respect of specified business
Special provision in respect of specified business.80-IAC. (1) Where the gross total income of an assessee, being an eligible start-up, includes any profits and gains derived from eligible business, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to one hundred per cent of the profits and gains derived from such business for three consecutive assessment years.(2) The deduction specified in sub-section (1) may, at the option of the assessee, be claimed by him for any three consecutive assessment years out of ten years beginning from the year in which the eligible start-up is incorporated.(3) This section applies to a start-up which fulfils the following conditions, namely:-
| (i) | - | it is not formed by splitting up, or the reconstruction, of a business already in existence: |
| - | Provided that this condition shall not apply in respect of a start-up which is formed as a result of the re-establishment, reconstruction or revival by the assessee of the business of any such undertaking as referred to in section 33B, in the circumstances and within the period specified in that section; | |
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24 October 2026
CA Industrial TraineeFytomax Nutrition Private Limited Aurangabad CA Inter View Details
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