Written By: Swati Baid

Date: 25/05/2023

Step to register and avail the deduction us 80IAC

  1. Determine eligibility: Ensure that your start-up meets the eligibility criteria specified under Section 80IAC. This includes being an eligible start-up as defined by the Department of Industrial Policy and Promotion (DIPP) and engaged in an eligible business.
  2. Prepare necessary documents: Gather the required documents to support your registration application. Following documents are required for the registration:
  • Name, address, and nature of business of the startup
  • Date of Incorporation Number and CIN / LLPIN
  • Permanent Account Number (PAN) of the startup
  • DIPP Number of the Startup after its recognition by the DPIIT
  • Contact Information of the Startup (E-mail ID and Contact Number)
  • Copy of the Memorandum of Association of the company, or LLP Deed of the LLP or Registered Partnership Agreement
  • Copy of the Board Resolution, in case of a company, if any
  • Copies of the startup’s Balance Sheet and Profit & Loss Statement of the last 3 financial years, certified by a practising Chartered Accountant
  • Copies of Income Tax Returns of the last 3 financial years mandatory, if it was incorporated before 1st April, 2018
  • Copy of Certificate obtained under section 56 of the Income Tax Act
  • Video link and copy of pitch deck required according to the stage in which the startup is (ideation / validation / early traction / scaling)

 

  1. Create an account on the DPIIT portal: Visit the official website of the DPIIT and create an account on their portal. Provide the necessary details and follow the registration process.
  2. Fill in the application form: Fill in the application form for registration under Section 80IAC. Provide accurate and complete information as per the requirements specified in the form.
  3. Upload supporting documents: Upload the necessary supporting documents as per the requirements mentioned in the application form. Ensure that all documents are clear, legible, and in the prescribed format.
  4. Submit the application: Review the application form and attached documents for accuracy and completeness. Once you are satisfied, submit the application through the DIPP portal.
  5. Pay the prescribed fees: Pay the registration fees, if applicable, as specified by the DIPP. The fee structure may vary, so refer to the official guidelines or seek assistance from the DIPP or a professional advisor.
  6. Track the application: Monitor the status of your application through the DIPP portal. You may receive updates or requests for additional information from the authorities. Respond to any such requests promptly.
  7. Obtain the certificate: Once your application is approved and all requirements are met, the DIPP will issue the certificate of eligibility under Section 80IAC. This certificate serves as proof of your registration and eligibility for claiming deductions.
  8. Retain and submit the certificate: Retain the certificate of eligibility for your records. When filing your income tax return and claiming deductions under Section 80IAC, submit a copy of the certificate as required by the tax authorities.

  69 Likes

Written By: Swati Baid


Related Blogs

tag:Income Tax

blogid:1683100260

Income Tax Planning

Learn More

tag:Income Tax

blogid:1684389820

Sec. 44AD

Learn More

tag:Income Tax

blogid:1684390065

Individual Tax Rate

Learn More

tag:Income Tax

blogid:1684390441

Tax Exemption to a start up company -Sec. 80 IAC

Learn More

tag:Income Tax

blogid:1684998077

FAQs on exemption u/s 80IAC of Income Tax Act

Learn More

tag:Income Tax

blogid:1684997885

Step to register and avail the deduction us 80IAC

Learn More

tag:Planning

blogid:1683100260

Income Tax Planning

Learn More

tag:Planning

blogid:1684389820

Sec. 44AD

Learn More

tag:Planning

blogid:1684390065

Individual Tax Rate

Learn More

tag:Planning

blogid:1684390441

Tax Exemption to a start up company -Sec. 80 IAC

Learn More

tag:Planning

blogid:1684998077

FAQs on exemption u/s 80IAC of Income Tax Act

Learn More

tag:Planning

blogid:1684997885

Step to register and avail the deduction us 80IAC

Learn More

tag:80IAC

blogid:1684998077

FAQs on exemption u/s 80IAC of Income Tax Act

Learn More

tag:80IAC

blogid:1684997885

Step to register and avail the deduction us 80IAC

Learn More

Newsletter

Subscribe to our newsletters and get latest updates.

Request A Call Back

Category

Popular Posts

FAQs on exemption u/s 80IAC of Income Tax Act

Learn More

Step to register and avail the deduction us 80IAC

Learn More

Tax Exemption u/s 80IAC of Income Tax Act to Startup in India

Learn More

Can a Designated partner be appointed without having made any investment in the LLP in form of 'Contribution'?

Learn More

A Step-by-Step Guide to Issuing ESOPs for Startups in India under the Companies Act, 2013

Learn More

Demystifying ESOPs: Employee Stock Ownership Plans Explained in Layman's Terms

Learn More

If a company does not have MSME registration gain it still file for receiving its outstanding under the MSME act?

Learn More

What happens when both or all the directors of the company resign from the board of directors of the company?

Learn More

Statutory Registers under the Companies Act, 2013

Learn More

Recognition Guidelines for Startups:

Learn More