<p>New Delhi: The government on Thursday said it has approved as many as 187 startups for income tax exemption.</p>.<p>The tax benefit allows eligible startups a 100 per cent income tax deduction on profits for any three consecutive years within a ten-year window from the date of incorporation.</p>.<p>The income tax benefit scheme is designed to support emerging businesses in their formative years, encouraging innovation, job creation, and wealth generation.</p>.<p>"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," the commerce and industry ministry said in a statement.</p>.UK-India trade deal: Britain's most misunderstood tax deserves the axe.<p>The decision regarding this was taken during the meeting of the Inter-Ministerial Board (IMB).</p>.<p>With this, over 3,700 startups have now been granted exemptions since the scheme's inception, it said.</p>.<p>In an announcement during the Union Budget 2025-26, the government extended the eligibility window for startups to claim benefits under Section 80-IAC.</p>.<p>Startups incorporated before April 1, 2030, are now eligible to apply, giving more time and opportunity to new ventures to benefit from this financial relief.</p>.<p>"Pertinently, the revised evaluation framework introduced by DPIIT has made the application process more structured and transparent. Complete applications are now reviewed within 120 days, ensuring faster decision-making and reducing procedural delays," it said.</p>.<p>Startups that were not approved in the latest round have been encouraged to reassess and refine their applications, it added.</p>.<p>The DPIIT has advised applicants to focus on demonstrating technological innovation, market potential, scalability, and a clear contribution to employment and economic growth. </p>
<p>New Delhi: The government on Thursday said it has approved as many as 187 startups for income tax exemption.</p>.<p>The tax benefit allows eligible startups a 100 per cent income tax deduction on profits for any three consecutive years within a ten-year window from the date of incorporation.</p>.<p>The income tax benefit scheme is designed to support emerging businesses in their formative years, encouraging innovation, job creation, and wealth generation.</p>.<p>"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," the commerce and industry ministry said in a statement.</p>.UK-India trade deal: Britain's most misunderstood tax deserves the axe.<p>The decision regarding this was taken during the meeting of the Inter-Ministerial Board (IMB).</p>.<p>With this, over 3,700 startups have now been granted exemptions since the scheme's inception, it said.</p>.<p>In an announcement during the Union Budget 2025-26, the government extended the eligibility window for startups to claim benefits under Section 80-IAC.</p>.<p>Startups incorporated before April 1, 2030, are now eligible to apply, giving more time and opportunity to new ventures to benefit from this financial relief.</p>.<p>"Pertinently, the revised evaluation framework introduced by DPIIT has made the application process more structured and transparent. Complete applications are now reviewed within 120 days, ensuring faster decision-making and reducing procedural delays," it said.</p>.<p>Startups that were not approved in the latest round have been encouraged to reassess and refine their applications, it added.</p>.<p>The DPIIT has advised applicants to focus on demonstrating technological innovation, market potential, scalability, and a clear contribution to employment and economic growth. </p>