80 IAC Income Tax Exemption Registration
After getting recognition as a Start-up, Company can apply for Tax exemption under section 80 IAC of the Income Tax Act. After getting clearance for Tax exemption, the Start-up can avail of tax holiday for 3 consecutive financial years out of its first ten years since incorporation.
Eligibility Criteria for applying to Income Tax exemption (80IAC)
The entity should be a recognized Startup
Only Private limited or a Limited Liability Partnership is eligible for Tax exemption under Section 80 iac tax exemption
The Startup should have been incorporated after 1st April, 2016
Documents Required for Income Tax exemption (80IAC)
- MOA in Case of Private limited or LLP Deed in Case of LLP
- Board resolution
- Income Tax Return for the last 3 financial years
- Financial Statement for the last 3 financial years (Balance sheet, Profit & Loss)
- Startup Video Link
- Pitch deck
