Income tax benefits for startups
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2018
Dear Experts
Assesee wants to incorporate a firm to conduct hotel and lodging business. Is the firm eligible as startup for claiming the Tax free holiday benefits?
Please Reply
Assesee wants to incorporate a firm to conduct hotel and lodging business. Is the firm eligible as startup for claiming the Tax free holiday benefits?
Please Reply
23 February 2018
Hotel & Lodging not comes under purview of Startup for tax benifit
The Startup incorporated after April 1, 2016, is eligible for getting 100% tax rebate u/s 80IAC on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs 25 crores in any financial year.This will help the startups to meet their working capital requirements during their initial years of operation.
1.Maintain separate Books of Accounts for eligible Business
2.Get there accounts audited by CA
3.Furnish Report in Form 10CCB
The Startup incorporated after April 1, 2016, is eligible for getting 100% tax rebate u/s 80IAC on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs 25 crores in any financial year.This will help the startups to meet their working capital requirements during their initial years of operation.
1.Maintain separate Books of Accounts for eligible Business
2.Get there accounts audited by CA
3.Furnish Report in Form 10CCB
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