New Delhi, May 15 -- 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 decision came during the 80th meeting of the Inter-Ministerial Board (IMB), held on 30th April 2025, Ministry of Commerce & Industry said in a statement.

According to a spokesperson of DPIIT, the tax benefit allows eligible startups a 100 per cent income tax deduction on profits for any three consecutive years within a ten-year window from the date of incorporation. The scheme is designed to support emerging businesses in their formative years, encouraging innovation, job creation, and wealth generation.

Of the total approvals, 75 startup...