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of <h1>Section 80-IAC Offers 100% Tax Deduction for Start-Ups with Innovative, Tech-Driven Businesses Within Five Years of Incorporation.</h1> Section 80-IAC of the Income-tax Act, introduced by Clause 41 of the Finance Bill, 2016, provides a 100% tax deduction on profits from eligible businesses for start-ups. This deduction applies for three consecutive assessment years within the first five years of incorporation, provided the start-up is incorporated between April 1, 2016, and April 1, 2019. Eligible businesses must involve innovation or commercialization driven by technology or intellectual property, and the start-up's turnover must not exceed 25 crore rupees. The start-up must also hold certification from the Inter-Ministerial Board of Certification. This provision is effective from April 1, 2017.
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