The Department for Promotion of Industry and Internal Trade (DPIIT) has also made income tax relief accessible for new startups in India. On the label "DPIIT Grants Income Tax Relief for New Startups," qualifying startups are eligible for tax relief on profit for any three of their first ten years of establishment under Section 80-IAC of the Income Tax Act. This has been done to promote entrepreneurship, reduce financial hardship, and spur innovation among newly established businesses in India. To learn more, read our blog.
