Current Affairs - Sports Current Affairs
Under Startup India, eligible startups can avail income tax exemption under which section of the Income Tax Act?
Under Startup India, eligible startups can avail income tax exemption under which section of the Income Tax Act?
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify tax benefit provision
Startup India provides tax exemptions to eligible startups.Step 2: Recall legal section
The exemption for three consecutive years is provided under Section 80-IAC of the Income Tax Act.Final Answer:
Section 80-IAC → Option BQuick Check:
Startup tax exemption → Section 80-IAC ✅
Quick Trick: Startup tax benefit = 80-IAC.
Common Mistakes:
MISTAKES- Confusing with presumptive taxation under Section 44AD.
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