What are the Types of Tax Benefits that are available for Start-ups in Electronic City if you register for start-up registration?
Eligibility Start-ups can register to make use of 2 benefits under income Tax U/s 80IAC: - According to the Start-up company registration in electronic city Exempted tax on 100% gain and profit from business for 3 successive financial year. U/s 56(2) (viib) (Angel Tax): - Exempted tax on investment in shareholder capital if there is any excess share premium value on the top of the fair market value. Who can Apply for Tax Benefit? a Start-up company must be authorized or recognized by DPIIT (previously known as DIPP) It should contain only a Limited Liability Partnership (LLP) or a Private Limited Company The Start-up company should be in incorporation on or after 1st day of April 2016. Your start-up entity should be recognised as Start-up by DPIIT department. Is this adequate to avail the benefits of tax exemption? No. it is not of you wanted to avail the benefits of tax exemption; you need to register separately through DPIIT. What are high...