We live in an era of disruption with the rise of innovative start-ups transforming industries and bringing about a change in the economic landscape. New entrepreneurial companies are challenging established businesses and legacy brands by identifying unexplored niches in the marketplace and filling the gaps with agile, low-cost, and often digital solutions.
JKPP Startup Advisory Services can play an active, hands-on role to support the distinctive growth challenges disruptive businesses face at every stage of their business lifecycle. Our work can be structured on a project basis or as a part-time interim operating role.STARTING OUT
– No time-consuming compliances
– Easy exit
– Meet other entrepreneurs
Section 80-IAC allows a deduction to a start-up incorporated between 01-04-2016 and 31-03-2022, provided its turnover does not exceed Rs. 100 crores in the previous year for which deduction under section is claimed. The deduction can be claimed subject to fulfillment of certain conditions, such as the start-up should be engaged in innovation, development, or improvement of products or processes or services or a scalable business model with a high potential of employment generation or wealth creation.
The deduction can be claimed for 100% of profits and gains for three consecutive assessment years out of the ten years beginning from the year of incorporation. The amount deductible under this provision shall be computed, deeming that the eligible business is the only source of income of assessee during the previous year in which deduction is to be allowed.