Eligible Start-up - Definition / Legal Terminology - Income Tax

Explanation.(ii) -For the purposes of section 80IAC of the Income tax Act 1961, - Eligible Start-up means a company or a limited liability partnership engaged in eligible business which fulfils the following conditions, namely:- (a) it is incorporated on or after the 1st day of April, 2016 but before the 1st day of April, 2025; (b) the total turnover of its business does not exceed one hundred crore rupees in the previous year relevant to the assessment year for which deduction under sub-section (1) is claimed; (c) it holds a certificate of eligible business from the Inter-Ministerial Board of Certification as notified in the Official Gazette by the Central Government; and