Chaitra Seetharam
Quick Summary
As per the Income Tax Act (Section 80-IAC), a startup is an entity (company or LLP) incorporated between April 2016 and March 2028, with annual turnover not exceeding ₹100 crore, recognized by DPIIT, and engaged in an innovative business (excluding traditional sectors like real estate or agricultur
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FAQ :
Startups incorporated on or before April 1, 2030, can qualify for the tax exemption under Section 80-IAC.
Eligible startups can receive a 100% tax deduction on their profits for three consecutive financial years within the first ten years of their incorporation.
Startups must be recognised by the DPIIT, be a private limited company or LLP, incorporated between April 1, 2016, and April 1, 2030, have an annual turnover not exceeding ₹100 crore, and be involved in innovation or have a scalable business model.
A startup must make an online application via the DPIIT mobile app or portal, submitting a copy of its Certificate of Incorporation or Registration and a write-up detailing its innovative business nature, scalability, and potential for employment or wealth creation.
For tax benefits and other incentives, a startup's annual turnover must not exceed INR 100 crore in any of the previous financial years.
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