DPIIT approves 187 startups for tax exemption under revised Section 80-IAC

The Department for Promotion of Industry and Internal Trade (DPIIT) has approved a total of 187 startups for availing tax exemptions under Section 80-IAC of the Income Tax Act. These approvals come after a revision in the eligibility criteria for this benefit, which allows qualifying startups to enjoy a 3-year tax holiday. The significant number of approvals demonstrates the government's continued commitment to supporting the growth and development of the startup ecosystem in India, even while implementing stricter scrutiny to ensure that the benefits reach genuine and deserving ventures.