Amendment of section 80-IAC.

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....tart up engaged in innovation, development or improvement of products or processes or services or a scalable business model with a high potential of employment generation or wealth creation;'; (b) in clause (ii),-- (i) in sub-clause (a), for the figures "2019", the figures "2021" shall be substituted; (ii) in sub-clause (b), for the words, figures and letters "previous y....

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.... eligible business. It is proposed to amend the said section so as to provide that deduction under the said section shall be available to an eligible start-up, if it is incorporated on or after the 1st day of April, 2016 but before the 1st day of April, 2021; the total turnover of its business does not exceed twenty-five crore rupees in any of the seven previous years beginning from the year in....