What are the taxation benefits to a start up in india?
Ritik Chopra (student) (8128 Points)
05 May 2021What are the taxation benefits to a start up in india?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 05 May 2021
CA NIYATI SONI
(PROPRIETOR )
(651 Points)
Replied 05 May 2021
Following are the benefit under Income Tax for Start up registered parties:
1) Angel Tax Exemption from sec 56(2)(viib) of Income Tax Act, 1961. - Exemption available up to an Investment of INR 25 Crores. (I.e. Aggregate amount of paid up share capital and share premium of the Eligible Startup after issue or proposed issue of share, if any, does not exceed INR 25 Crores)
2) Tax Deduction u/s 80-IAC-100% Tax deduction for any three consecutive years out of a period of Ten Years. Deduction Period is available at the option of Startup. The Eligible Start-up should be incorporated on or after 01.04.2016 but before 01.04.2021.
3) Only 80IAC recognized Startup can avail other tax benefits - Carry forward of Loss, Capital Gain Exemptions, ESOP Tax deferments.
SNDJCo
(Managing Director )
(24 Points)
Replied 06 May 2021
According to the Startup India Action Plan, the following conditions must be met to qualify as a startup
We are the Chartered Accountants in Hyderabad
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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