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HOW TO APPLY STARTUP TAX EXEMPTION U/s 80IAC

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How to Apply for Tax Exemption under Section 80 IAC:

To be eligible for a tax holiday under Section 80 IAC of the Income Tax Act, a Startup must first obtain a DPIIT Certificate (Startup Recognition Certificate). Once this certificate is secured, the Startup can then apply for a tax exemption, allowing for a tax holiday for three consecutive financial years out of its first ten years since incorporation. Eligibility Criteria for Income Tax Exemption (Section 80 IAC):

  • Recognized Startup: The entity must be officially recognized as a Startup.
  • Entity Type: Only Private Limited Companies or Limited Liability Partnerships (LLPs) are eligible for this tax exemption.
  • Incorporation Date: The Startup must have been incorporated after 1st April, 2016.

Steps to Apply for Tax Exemption:

Step 1: Obtain DPIIT Startup Certificate

  • • If you operate a Private Limited Company or an LLP but do not yet have a DPIIT Startup Certificate, your first step is to apply for this recognition.
  • • For detailed instructions on how to apply for Startup recognition, visit Effects India DIPP Registration.

Step 2: Apply for Tax Exemption

Once you have obtained your DPIIT Startup Certificate, you can proceed to apply for the tax exemption under Section 80 IAC.

Send your Requirement here

Documents Requirement for Private Limited Company

01
Photographs of all Proposed Shareholders & Directors
03
ID proof, including Driving License, Voter ID, Passport, is necessary for all Proposed Shareholders & Directors to comply with regulatory requirements.
05
Email ID and Mobile Numbers of all Shareholders & Directors
07
Company Registered Office Address Proof - Telephone or Electricity Bill (not more than 30 days old) + NOC from property owner
02
PAN card Copy of all Proposed Shareholders & Directors
04
Address Proof - Bank Statement / Telephone or Mobile or Electricity Bill (not more than 30 days old) of all Proposed Shareholders & Directors
06
Aadhar card (Optional)
08
The Director Identification Number (DIN) is not mandatory for proposed directors if they already possess an active DIN.

Company Registration Procedure in India

1
Acquire a Digital Signature Certificate (DSC)
2
DSC apply
3
Incorporation Filing
4
Company Approved
5
Company Approved
6
Company Approved
7
Company Approved
8
Company Approved

Startup Pitch Deck Preparation Guidelines

Innovation and Scalability

Director Details

Shareholding Pattern

Citizenship Details

Team Details

Government Approvals

Revenue Model

Funding Details

Awards and Recognition

Employment Statistics

Customer/Client Information

Website and Visuals

Features of a Private Limited Company (PLC)

1. What does your startup offer?
  • A.Our startup provides a unique [product/service] designed to [brief description of product/service functionality]. Key features include [feature 1], [feature 2], and [feature 3].
2. How is your startup innovative and scalable?
  • A.Our startup stands out through its unique [feature/USP], which differentiates us from competitors. Our product/service is scalable due to [reason for scalability, e.g., technology, market reach].
3. Who are the directors and what are their qualifications?
  • A. Our directors include [Name 1], with a degree in [field] from [institution], and professional experience in [industry/role]. They currently serve as [designation]. [Name 2] holds [degree] and has worked in [industry/role], serving as [designation].
4. What is the current shareholding pattern?
  • B.The current shareholding structure is as follows: [Director/Shareholder 1] owns [percentage]%, [Director/Shareholder 2] owns [percentage]%, and so on.
5. What are the citizenship details of the directors and shareholders?
  • A.Our directors and shareholders hold the following citizenships: [Director/Shareholder 1] is a citizen of [country], [Director/Shareholder 2] is a citizen of [country], etc
6. Who makes up your team and what are their roles?
  • A.Our team consists of [Name], who serves as [role], holds a [degree] in [field] from [institution], and has experience in [industry/role]. Another team member, [Name], is the [role], with a background in [field/industry].
7. What government approvals does your startup have?
  • A.We have secured the necessary government approvals, including FSSAI registration and compliance with the Bureau of Indian Standards guidelines.
8. How does your startup generate revenue?
  • A. Our startup generates revenue through [description of revenue model], including [revenue stream 1], [revenue stream 2], and [revenue stream 3].
9. Has your startup received any funding?
  • A. Yes/No. If yes, we have received funding from [Investor/VC name] and [details of the investment]. Additionally, we have received [monetary/non-monetary] support from [Central/State Government Ministries/Departments/PSUs/Incubators].

Our Service Coverage

After Company incorporation, you will receive below documents

  • Company Certificate of Incorporation
  • Memorandum of Association & Article of Association (MOA & AOA)
  • PAN Card and TAN Allotment
  • EPF & ESI Registration
  • Digital Signatures (Class 2)
  • Directors Identification Number (DIN)
  • Assist in Bank A/c Opening
  • Professional Tax Registration (in Maharashtra Only)
  • GST Registration (Optional)
Service List
Navneet K Arora & Co LLP

Effects India, where professionalism meets excellence. Established in 1995, we have built a reputation for delivering comprehensive consultancy services across diverse industries. Our team comprises dedicated professionals including Company Secretaries, Chartered Accountants, Advocates, Solicitors, Management Professionals, and IT Experts, all committed to providing top-notch solutions tailored to your business needs.

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