Extending the period for claiming deduction by start-ups :
CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
36 | Extending the period for claiming deduction by start-ups | 80-IAC | AMENDED |
01st April 2018 (A.Y. 2018-19) |
It is proposed that deduction of amount equal to one hundred per cent of the profits and gains derived from eligible business of startups for three consecutive assessment years out of seven years beginning from the year in which such eligible start-up is incorporated. ( Previously deduction of profits for three consecutive assessment years out of five years ) |