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of <h1>Finance Bill 2017 amends Section 80-IAC, extending start-up profit deduction eligibility from 5 to 7 years.</h1> Clause 36 of the Finance Bill, 2017 proposes an amendment to section 80-IAC of the Income-tax Act, which pertains to deductions for eligible start-ups. The amendment extends the period within which start-ups can claim a 100% deduction on profits from eligible business activities. Previously, this deduction could be claimed for any three consecutive assessment years within a five-year period from the start-up's incorporation. The amendment extends this period to seven years, effective from April 1, 2018, applicable to the assessment year 2018-2019 and onwards.
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