Eligible Company definition requires recent Indian incorporation, manufacturing or eligible business, substantial assessee ownership, and SME or startup status. An Eligible Company under section 54GB(6)(b) must be incorporated in India within the relevant incorporation window, be engaged in manufacture or an eligible business, have the assessee acquire a substantial shareholding and voting interest after subscription, and qualify as an SME under the Micro, Small and Medium Enterprises Act, 2006 or as an eligible start-up.