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Section 80-IAC: Tax Benefits for Eligible Startups

Introduced on April 1, 2017, Section 80-IAC of the Income Tax Act, 1961, provides 100% tax exemption on profits for eligible startups for three consecutive assessment years within the first ten years of incorporation. This provision aims to foster the growth of innovative, high-potential startups by offering substantial tax benefits.

Who Can Avail of the Benefits?

To qualify for the Section 80-IAC tax deduction, a startup must meet the following criteria:

  • Registered as a Private Limited Company or LLP in India.
  • Recognized as an eligible startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
  • Engaged in innovation, development, or improvement of products, processes, or services with high scalability.
  • Incorporated on or after April 1, 2016.
  • Annual turnover does not exceed ₹100 crores in any of the preceding years.

Key Benefits Under Section 80-IAC:

  • 100% Tax Deduction – No tax on profits for three consecutive years within the first ten years of incorporation.
  • Boosts Innovation & Growth – Encourages startups to reinvest profits into scaling their business.
  • Reduces Financial Burden – Helps early-stage companies save on taxes and focus on expansion.
  • Enhances Profitability – Allows startups to optimize financial resources efficiently.

Why Choose Panchal S K and Associates?

  • Expert Guidance on Startup Taxation – Our team ensures you maximize tax benefits while staying fully compliant.
  • Seamless DPIIT Registration Support – We help you obtain startup recognition for availing of Section 80-IAC benefits.
  • Strategic Tax Planning – Tailored strategies to optimize tax savings for your startup.
  • Hassle-Free Documentation & Filing – Ensuring smooth compliance with regulatory requirements.