80-IACDPIIT
Section 80-IAC Tax Exemption
(80-IAC)
Definition
A provision allowing DPIIT-recognised startups to claim 100% deduction on profits for any 3 consecutive years out of the first 10 years of existence. Applied for separately after DPIIT recognition.
Why founders care
This could save lakhs in income tax in your growth years. Apply for DPIIT recognition first, then apply separately to the Inter-Ministerial Board (IMB) for 80-IAC certification.
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