Does section 80IAC now abolished?
Menu
To Verify about Income Dedution
Replies (5)
Quick Summary
Yes. Section 80IAC is abolished for new startups from FY 2024-25, but older eligible startups can still claim it if they meet the criteria.
Thank you very much for the reply. It means that my start up company incorporated in 2020 then it is eligible for the section 80IAC benefit?
Yes, if you have already claimed the benefit in earlier years.
The company has incorporated but did not make any claim yet.
You can claim it if you have proof of its production date; being before 31.03.2024.
Recent Topics :
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
Related Topics :
CAclubindia
