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Income tax benefits given to 2,975 DPIIT recognized startups

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Startup India Action Plan was announced in 2016.

The government provides income tax exemption under Startup India.

So far, 2,975 government-recognised startups have been given income tax exemption, a senior official said on Monday.

Under Startup India, the government gives exemption in income tax.

Sanjeev, joint secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), said that till December 31 last year, 1,17,254 startups have been recognized by the department.

“The number of startups getting income tax benefits till March 2023 was 1,100 and now it has increased to 2,975 startups,” he told reporters here.

He said that they are in the process of formulating a standard operating procedure for scrutiny and fast tracking of applications for granting eligibility certificates.

This certificate is necessary to claim tax exemption.

Startup India Action Plan was announced in 2016.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

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Justin, a prolific blog writer and tech aficionado, holds a Bachelor's degree in Computer Science. Armed with a deep understanding of the digital realm, Justin's journey unfolds through the lens of technology and creative expression.With a B.Tech in Computer Science, Justin navigates the ever-evolving landscape of coding languages and emerging technologies. His blogs seamlessly blend the technical intricacies of the digital world with a touch of creativity, offering readers a unique and insightful perspective.

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