Startups registered with DPIIT can unlock significant tax benefits through a streamlined process. To claim exemption from income tax for three consecutive years within their first ten years of incorporation, startups must present their idea and execution plan to the Inter-Ministerial Board (IMB). These tax concessions are part of the broader range of Startup India tax benefits designed to support new ventures. By availing themselves of these benefits, startups can alleviate their financial burden and redirect resources towards growth and innovation. The exemption from income tax empowers startups to reinvest their earnings, foster expansion, and drive long-term sustainability. The certification by the IMB is crucial for startups to access these tax benefits and capitalize on the supportive ecosystem fostered by the government.
