https://www.taxtmi.com/article/detailed?id=14748 Section 80-IAC permits an eligible private company or LLP to deduct 100% of profits for any three consecutive assessment years within the first ten years of incorporation, subject to turnover limits, DPIIT recognition and IMB certification of eligible business activities. The deduction is entity specific, non transferable, claimed via timely tax return filing with supporting IMB certification. Procedural hurdles-notably mandatory pre certification, opaque innovation standards, and interaction with other tax provisions-limit practical uptake, prompting recommendations for self declaration models, broadened innovation definitions, integrated data systems, and targeted outreach. en-us Fri, 04 Jul 2025 08:39:32 +0530 Fri, 04 Jul 2025 08:39:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14748 Section 80-IAC permits an eligible private company or LLP to deduct 100% of profits for any three consecutive assessment years within the first ten years of incorporation, subject to turnover limits, DPIIT recognition and IMB certification of eligible business activities. The deduction is entity specific, non transferable, claimed via timely tax return filing with supporting IMB certification. Procedural hurdles-notably mandatory pre certification, opaque innovation standards, and interaction with other tax provisions-limit practical uptake, prompting recommendations for self declaration models, broadened innovation definitions, integrated data systems, and targeted outreach. Articles Income Tax Fri, 04 Jul 2025 08:39:32 +0530 https://www.taxtmi.com/article/detailed?id=14748