23 February 2024
A Private Limited Company took startup recognition certificate in April 2023 and DIPP number also received. Company Incorporated in December 2021 Q1: Now Company wants to avail tax exemption under 80IAC from FY 2023-24 onwards. What are the further procedures to be followed by Company to avail said deduction? Whether separate registration required for availing tax exemption other than startup recognition? If so, what is the time limit for applying the same to take exemption from FY 2023-24.
Q2: If Company intent to avail registration after two years (ie, from FY 2025-26 onwards), if I apply now for 80IAC tax exemption whether exemption will applicable from FY 2023-24 or Can I take exemption later for any 3 years consecutive years in the 10 years?
CAclubindia
