Govt approves 187 startups for income tax exemption benefits
The Hindu
Tax benefit scheme supports startups with 100% income tax deduction for three years, encouraging innovation and job creation.
The government on Thursday (May 15, 2025) said it has approved as many as 187 startups for income tax exemption.
The tax benefit allows eligible startups a 100% income tax deduction on profits for any three consecutive years within a ten-year window from the date of incorporation.
The income tax benefit scheme is designed to support emerging businesses in their formative years, encouraging innovation, job creation, and wealth generation.
"The Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemption under the revamped Section 80-IAC of the Income Tax Act," the Commerce and Industry Ministry said in a statement.
The decision regarding this was taken during the meeting of the Inter-Ministerial Board (IMB).
With this, over 3,700 startups have now been granted exemptions since the scheme's inception, it said.
In an announcement during the Union Budget 2025-26, the government extended the eligibility window for startups to claim benefits under Section 80-IAC.
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