TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2020 amends Section 80-IAC, boosting start-up tax benefits: 100% deduction for 3/10 years, turnover cap raised.</h1> The Finance Bill 2020 proposes amendments to section 80-IAC of the Income Tax Act to support start-ups. Previously, eligible start-ups could claim a 100% deduction on profits for three out of seven years, provided they were incorporated between April 1, 2016, and April 1, 2021, with a turnover not exceeding 25 crore rupees. The amendment extends this benefit to three out of ten years, raising the turnover cap to 100 crore rupees. This change will be effective from April 1, 2021, applying to the assessment year 2021-22 onward.
TaxTMI 
TaxTMI 