India, May 15 -- The Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for tax exemptions under the revised Section 80-IAC of the Income Tax Act.

In a statement, the commerce ministry said that 75 startups were cleared for exemptions during the 79th Inter-Ministerial Board (IMB) meeting and 112 startups received the nod during the 80th meeting.

With this, more than 3,700 startups have now been granted tax exemptions under the scheme since its inception.

This follows finance minister Nirmala Sitharaman, in her budget speech 2025-26, proposing extending the eligibility window for startups to apply for benefits provided under Section 80-IAC for a period of five years. With this, startups incorporate...