Do startups pay income tax
Yes, startups are required to pay income tax in accordance with the Income Tax Act. The amount of income tax paid by a startup depends on their taxable income, which is calculated by subtracting allowable deductions from their total income. However, the government has introduced various tax exemptions and incentives for startups to promote entrepreneurship and innovation in the country. For example, eligible startups can avail tax holidays, exemptions on capital gains, and deductions on certain expenses. Startups must be paid income tax returns because it is important for business.
To Visit https://www.incometax.gov.in/
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