Archive · 19 May 2025
Government Approves Startups for Tax Exemption Benefits
The government is helping new businesses (startups) by allowing them to avoid paying income tax for a few years.
Recently, they approved 187 startups for this benefit.
These businesses can deduct 100% of their profits from taxes for any three years within a ten-year period.
This scheme aims to encourage innovation, create jobs, and boost the economy by supporting new companies.
The government also extended the deadline for startups to apply for this benefit until those incorporated before April 1, 2030.
The application process has become faster, with decisions being made in about 120 days.
The government approved 187 startups for income tax exemption.
Eligible startups get a 100% income tax deduction on profits for three years.
The scheme supports emerging businesses to encourage innovation and job creation.
Over 3,700 startups have received exemptions since the scheme began.
Startups incorporated before April 1, 2030, can apply for benefits.
- Who
- The government and 187 approved startups.
- What
- The government approved 187 startups for income tax exemption.
- When
- May 15, 2025 (reported)
- Where
- New Delhi (reported)
- Why
- To support emerging businesses, encourage innovation, and create jobs.
- Startups Approved
- 187
- Relevant Section
- Section 80-IAC of the Income Tax Act
- Tax Deduction
- 100% on profits for 3 years
- Eligibility Deadline
- Before April 1, 2030
- Application Review Time
- 120 days
