Startup deduction window extended to allow three consecutive assessment-year deductions within an extended incorporation eligibility period for qualifying startups. Where a qualifying startup's profits from an eligible business are included in gross total income, a deduction equal to one hundred per cent of those profits is allowed for three consecutive assessment years; the amendment permits the assessee to claim that three-year deduction for any three consecutive assessment years chosen from within seven years beginning with the year of incorporation instead of five years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Startup deduction window extended to allow three consecutive assessment-year deductions within an extended incorporation eligibility period for qualifying startups.
Where a qualifying startup's profits from an eligible business are included in gross total income, a deduction equal to one hundred per cent of those profits is allowed for three consecutive assessment years; the amendment permits the assessee to claim that three-year deduction for any three consecutive assessment years chosen from within seven years beginning with the year of incorporation instead of five years.
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