Parliamentary Panel recommends easier criteria for startups to avail tax benefits
Shortpedia
Content Team
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The Parliamentary Standing Committee on Commerce on Thursday (August 10) recommended a relaxation in criteria for startups to be eligible for benefits under the income tax law. The panel noted that only 1% of recognised startups have the eligibility certificate, expressing concern about the low utilisation of section 80-IAC of the Income Tax Act, 1961, which entitles eligible startups to avail of the tax benefit.
