sec. 80iac of income tax Act
This query is : Open
12 August 2017
Sec. 80iac of income tax Act gives tax benefits to startups for 3 years. Suppose for PY 2017 T/o is 20 crores. For PY 2018 T/o is 23 crores. Hence this entity has claimed exemption under sec. 80iac and still one more year to go. Now suppose for PY 2019 T/o is 30 crores (i.e. exceeding the limit of 25 crores given in the section) then it will not get exemption u/s 80iac for PY 2019, but what about PY 2017 and 2018? Will the exemptions claimed earlier get reversed
12 August 2017
Exemption already claimed will not reversed...
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