New Delhi, May 16 -- The Department for Promotion of Industry and Internal Trade (DPIIT) has approved income tax exemptions for 187 startups under the revamped Section 80-IAC of the Income Tax Act, marking a significant development for India's entrepreneurial landscape.

The decision was finalised during the 80th meeting of the Inter-Ministerial Board (IMB) held on April 30, 2025.

The tax benefit provides eligible startups with a complete income tax deduction on profits for any three consecutive years within a ten-year period from their incorporation date.

This initiative aims to bolster emerging businesses during their critical formative years, fostering innovation, employment opportunities, and economic growth.

The approvals were gra...