LOOKING FOR 80 IAC Tax Exemption in Raebareli, Uttar Pradesh

Looking to secure the 80IAC tax holiday for your startup in Raebareli, Uttar Pradesh? FinTax helps Pvt. Ltd. and LLP startups obtain DPIIT recognition, prepare IMB filings and claim the three-year 80IAC exemption — so you can keep cash in the business and scale faster.

What is Section 80-IAC?

Section 80-IAC of the Income Tax Act offers an income-tax holiday to qualifying startups: eligible companies can claim 100% tax exemption for any three consecutive financial years within the first ten years from incorporation. This relief is intended to help startups re-invest profits into R&D, hiring, and scaling.

Startups must meet statutory conditions to qualify. In short, your company must be:

• Incorporated as a Private Limited Company (Pvt. Ltd.) or an LLP.

• Incorporated on or after April 1, 2016.

• Recognised by DPIIT (Startup India recognition).

• Have turnover not exceeding ?100 crore in any previous year.

• Focused on innovation, development, or improvement of products/services — not a mere reorganization of an existing business.

• Not engaged in excluded/blacklisted activities (alcohol, tobacco, gambling, etc.).

Note for FinTax copy: for LLPs, include any entity-specific requirements (e.g., capital contribution, activities) — we handle the checks for you.

Why DPIIT recognition matters

DPIIT recognition is a prerequisite for 80-IAC claims. Without it, IMB won’t consider your exemption application. The recognition confirms your startup’s innovative nature and makes you eligible for multiple Startup India benefits.

To apply for 80-IAC exemption, the following documents are required for Startups of Raebareli, Uttar Pradesh :

1. Shareholding Details: Shareholding pattern as per the Memorandum of Association and the latest updated shareholding structure.

2. Board Resolution: Copies of any resolutions passed concerning the application or eligibility.

3. Income Tax Returns: Acknowledgement receipts for the past three years (or as applicable).

4. Audited Financial Statements: Balance Sheet & Profit and Loss Statement for the past three years (or as applicable), along with specific details of revenue generated and profit/loss during those years.

5. Chartered Accountant (CA) Certification:

   A) Declaration for Formation of Startup (Annexure 1)- Authorisation letter explicitly stating that the startup is not formed by splitting up or reconstruction of an already existing business, except where applicable under Section 33B of the Income Tax Act; The startup is not formed by the transfer of machinery or plant previously used for any purpose.

   B) Declaration of Scalability (Annexure 2)- If there is a >10% growth in revenue from one year to the next in the latest year OR 25% growth over the latest 2 years OR over 33% growth over the latest 3 years

6. Proof of Credit Rating: If a credit rating has been obtained from an accredited agency, supporting documents should be provided.

7. Intellectual Property Rights (IPR): Proof of IPR filings, including:

   a) Patent/Copyright/Industrial Design filings.

   b) Official journal publications of patents/copyrights/designs.

   c) Granted patents/copyrights/designs, if applicable.

8. Awards and Recognitions: Proof of awards at different levels:

    a) District-level awards by government or corporate entities.

    b) State-level awards by government authorities.

    c) National-level awards by government bodies or recognised international agencies, if applicable.

9. Pitch Deck/Videos: Any relevant presentations or video materials showcasing the business, product, or service.

10. HR Declaration & Employment Records:

   a) Declaration Regarding Employees Pursuing/ Holding M.Tech/PhD Degrees and Research Papers/Publications (Annexure 3)

    b) Total direct employment details (Annexure 4)? Employment of Females, Persons with Disabilities, Persons from SC/ST Categories (Annexure 4)

   c) Employees Based in Non-Metro Cities (Annexure 4)

11. Proof of Investment Received (Annexure 5):

     a) Declaration Regarding Funding Obtained and Investor Details

     b) Term sheets, investment agreements, or bank statements showing external funding amounts; Investor certificates, funding agreements, or tax returns/GST filings substantiating revenue figures.

1. Get DPIIT recognition (if not already).

2. Prepare documents: incorporation, financials, technical/innovation brief.

3. Submit Form 1 to the Inter-Ministerial Board (IMB) along with supporting docs.

4. IMB evaluation & approval. (FinTax monitors progress and responds to queries.)

5. Claim exemption in ITR for the approved years once IMB confirms approval.

We manage the entire process end-to-end — from drafting the innovation statement to following up with IMB so you don’t miss deadlines.

Common filing mistakes (and how FinTax prevents them)

Startups commonly lose eligibility because of:

• Missing DPIIT recognition or applying for exemption before recognition.

• Incomplete or inconsistent documentation.

• Not aligning financial statements and ITRs with IMB submissions.

• Misstating the nature of business (appears as an existing business split).

• Late submissions or missing IMB responses.

FinTax performs a pre-audit of your files, corrects gaps, and ensures the IMB submission is clean and defensible.

How we assist here?

• DPIIT recognition application and appeals.

• IMB / 80-IAC application drafting & submission.

• Document compilation, financial reconciliations, and statutory responses.

• Post-approval ITR filing assistance for claiming the exemption.

• Advisory for Pvt. Ltd. and LLP structures to maximise compliance and benefits.

• Local support: on-site consultations and document collection in Raebareli.

Professional Fee & timelines

• DPIIT recognition: typically 6-9 months after submission (depends on verification).

• IMB/80-IAC application: we prepare and submit within 5–10 business days once documents are ready.

• Fixed fee packages or tailored quotes available — contact us for a proposal specific to your entity type and scale.

FAQs 

Q1: Can an LLP claim 80-IAC?
A: Yes — LLPs that meet DPIIT’s criteria and other statutory conditions may be eligible. FinTax will verify entity-specific requirements before applying.

Q2: How many years of exemption can I claim?
A: You may claim 100% exemption for any 3 consecutive financial years within the first 10 years of incorporation, subject to IMB approval.

Q3: Is DPIIT recognition mandatory before IMB application?
A: Yes. IMB expects a DPIIT recognition certificate to proceed with 80-IAC evaluation.

Q4: What if turnover exceeds ?100 crore during the claim period?
A: Turnover threshold must be satisfied for previous year(s). Exceeding the limit may render you ineligible for that period — we’ll advise on timing to maximize benefits.

Q5: Do you assist with post-approval tax filings?
A: Yes. FinTax helps reconcile approval details and file ITRs to claim the exemption for the approved years.

How to get started 

Ready to claim 80-IAC in Raebareli, Uttar Pradesh?
Book a free 30-minute consultation with our startup tax team: Call: +91-7210000745 or Email : info@fintaxx.in
We’ll run a free eligibility check and send a tailored checklist for your Pvt. Ltd. or LLP.