Tax relaxation for 3 years
Start-ups don’t have to pay income tax for 3 years if they get a certificate from Inter-Ministerial Board (IMB). Start-ups established between April 1, 2016, and March 31, 2021, are eligible to participate in the program. The 2021 budget has extended eligibility to March 31, 2022 by Benefits to startup by the Government. Such start-up companies will be eligible for a 100% tax rebate on their income for 3 years within 7 years, provided that the annual turnover of any company does not exceed 25 million rupees per year. This will help start-up companies meet their working capital needs in the first few years of operation.
[…] Government of India provides various benefits such as tax exemption to the enrolled start-up entrepreneur other than just financial aids. Summery of Benefits to startup by the Government. […]