Start-ups: Registration, benefits & lower income tax rate of 15%

• August 21, 2020
• CA Chandan Agarwal's Office

Article explains meaning of Eligible start-up, process of recognition of an entity as eligible start-up, Action to be taken if Start up recognition application is marked as incomplete, Application to be filed for Certificate of Eligible Business- for section 80-IAC and other tax benefits, Exemption u/s 56(2)(viib) on receipt of share capital from any person (Definition as per DPIIT), Computation of Deduction under Section 80IAC, Condition of New entity, new business, new P&M for claiming deduction under section 80IAC, Audit and Report to be furnished in Form 10CCB, Liberalized regime of sec. 79 to carry forward &set-off the losses, Capital Gain Exemption u/s 54GB , Deferred TDS on perquisite income pertaining to receipt of ESOPs from start-up, Benefits to an eligible start-up or its shareholders, Grievances by the start-ups can be filed to CBDT Start-up cell , 15% Income Tax Rate for Manufacture or production in new company and Eligibility criteria to become an MSME – 2.

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