To Verify about Income Dedution

22 May 2025

Does section 80IAC now abolished?

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194527 Points)
Replied 23 May 2025

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.

Hemanshu Bakshi (82 Points)
Replied 23 May 2025

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?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194527 Points)
Replied 23 May 2025

Yes, if you have already claimed the benefit in earlier years.

Hemanshu Bakshi (82 Points)
Replied 24 May 2025

The company has incorporated but did not make any claim yet.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194527 Points)
Replied 24 May 2025

You can claim it if you have proof of its production date; being before 31.03.2024.

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