India, May 15 -- The Government of India issued the following news release:
In a significant boost to India's startup ecosystem, 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. Notably, the decision came during the 80th meeting of the Inter-Ministerial Board (IMB), held on 30th April 2025.
According to a spokesperson of DPIIT, 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 scheme is designed to support emerging businesses in their formative years, encouraging innovation, job creation, and ...