DPIIT Clears 187 Startups for 100% Tax Relief
The decision was made during the 80th meeting of the Inter-Ministerial Board (IMB) on April 30, 2025.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In a major push to strengthen India's startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemption under the revamped Section 80-IAC of the Income Tax Act. The decision was made during the 80th meeting of the Inter-Ministerial Board (IMB) on April 30, 2025.
The income tax exemption allows eligible startups a 100% deduction on profits for any three consecutive years within a ten-year period from their date of incorporation. The scheme aims to support startups in their early years, promote innovation, generate employment, and facilitate wealth creation.
Of the 187 approvals, 75 startups were cleared during the 79th IMB meeting and 112 during the 80th. With these latest additions, more than 3,700 startups have now been granted tax exemptions since the scheme's launch.
To widen the scheme's reach, the Union Budget 2025–26 extended the eligibility window. Startups incorporated before April 1, 2030, can now apply, offering a longer runway for emerging ventures to benefit from this critical support.
The DPIIT's revised evaluation framework has made the application process more streamlined and transparent. Complete applications are now assessed within 120 days, reducing delays and enabling quicker decision-making.
Startups that did not qualify in this round have been encouraged to refine and resubmit their proposals. The DPIIT advises applicants to highlight technological innovation, scalability, market potential, and economic impact to improve their chances.
The government's sustained focus on startup incentives reaffirms its commitment to building a self-reliant, innovation-driven economy. Further details on the exemption process and application criteria can be found on the Startup India portal.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 days ago
- Yahoo
TARGA ANNOUNCES CLOSE OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.6M
/NOT FOR DISSEMINATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES./ CSE: TEX | OTCQB: TRGEF | FRA: V6Y VANCOUVER, BC, June 6, 2025 /CNW/ - Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) (OTCQB: TRGEF) ("Targa" or the "Company") today announced that, further to the Company's news release dated May 13, 2025, it has closed its previously announced private placement for aggregate gross proceeds of approximately C$2,611,200 (the "Offering"). "I'd like to thank our investors, both new and old, for supporting Targa in this financing round," commented Targa CEO, Cameron Tymstra. "We are now fully funded to properly test the exciting gold target at Opinaca with the first ever drill program on the project. We are very pleased to be working closely with the technical team at Kenorland Minerals again this year who will continue to act as Project Operator for us at Opinaca. Airborne geophysics are underway, the results of which are expected to help with drill targeting on the 7km-long gold target trend. Drill permits will soon be applied for with a goal of drilling in Q3 of this year. Targa is now fully focused on making a new gold discovery at our 100%-owned Opinaca project." Pursuant to the closing of the Offering, the Company issued an aggregate of 6,650,200 hard dollar common shares of the Company (each an "HD Share") at a price of $0.10 per HD Share, 1,959,001 flow-through shares of the Company (each, an "FT Share") at a price of $0.12 per FT Share and 12,050,000 charity flow-through shares of the Company (each, a "CFT Share" and together with the HD Shares and the FT Shares, the "Shares") at a price of $0.142 per CFT Share. Each FT Share and CFT Share will qualify as a "flow-through share" pursuant to subsection 66(15) of the Income Tax Act (Canada) ("Tax Act"). The net proceeds of the sale of the HD Shares will be used for the exploration of the Company's Opinaca gold project and for working capital purposes. The gross proceeds from the sale of the FT Shares and CFT Shares will be used to incur eligible "Canadian exploration expenses" in Quebec that qualify as "flow-through mining expenditures" as such terms are defined in the Tax Act. The Company has agreed to renounce such qualifying expenditures with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the sale of the FT Shares and CFT Shares, and incur such expenses by December 31, 2026. In connection with the Offering, the Company paid finders fees of an aggregate of $104,400 in cash and issued an aggregate of 1,024,000 finders warrants of the Company (the "Finders Warrants") to certain eligible arm's length finders. Each Finders Warrant entitles the finder to purchase one common share of the Company (a "Finder Warrant Share") at a price of $0.25 per Finder Warrant Share until June 6, 2027. All securities issued pursuant to and in connection with the closing of the Offering, including Finder Warrant Shares issuable upon the exercise of Finder Warrants, are and will be subject to a hold period expiring October 7, 2025. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. About the Opinaca Gold Project The Opinaca Project is located in the James Bay region of Quebec, approximately 45km south of the all-season Trans-Taiga Road and 140km northeast of the Eleonore gold mine. The Opinaca Project covers 85,267 contiguous hectares of the Opinaca geological sub-province, dominantly a metasedimentary region with neoarchean-aged igneous intrusions including of the Vieux Comptoir suite of granites. Till sampling and prospecting work in 2023 and 2024 has identified a 7km-long gold target trend near the center of the project. Boulder sampling in 2024 returned a dozen boulders with anomalous (>0.1g/t) gold values, including up to 6.7g/t Au. Qualified Person The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Adrian Lupascu M. Sc. Exploration Manager of Targa Exploration Corp., who is a "qualified person" within the meaning of National Instrument 43 -101- Standards of Disclosure for Mineral Projects. About Targa Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in the acquisition, exploration, and development of gold mineral properties with headquarters in Vancouver, British Columbia. Targa's principal asset is it's Opinaca Gold Project where a significant gold-in-till anomaly has been identified over a strike length of 7km. Contact Information: For more information and to sign-up to the mailing list, please contact: Cameron Tymstra, CEO and PresidentTel: 416-668-1495Email: cameron@ SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "proposed", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: obtaining the required regulatory, exchange, and board approvals; receipt of exploration permits; timing of exploration programs; the proposed use of proceeds of the Offering; the tax treatment of the FT Shares and CFT Shares; the renouncement of applicable expenditures; and the exploration and development of the Company's properties. Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Targa, future growth potential for Targa and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Targa's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. These statements reflect Targa's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Targa has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: price volatility of gold and other metals; risks associated with the conduct of the Company's mineral exploration activities in Canada; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Targa's management discussion and analysis and other public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although Targa has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Targa does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Targa Exploration Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Yahoo
Tudor backs favourite, Allegri-Dusan tension, Inter eyes Saudi move 🇸🇦🤑
All eyes tonight will be on the match between Italy and Norway, but as usual, the market takes the spotlight first. Not only Chivu to Inter and Kelly's official move to Juventus: there are many market news released during the day and below you will find some of the most important ones. Juventus, Tudor wants his protégé After Juventus' decision not to extend Renato Veiga's loan, who is set to return to Chelsea, the Turin club is looking for a replacement in defense. Among the names considered with greater insistence stands out that of Balerdi, central defender of Marseille, already coached by Igor Tudor in the past. Advertisement The Argentine born in '99, who also holds an Italian passport, is a profile appreciated by the former Bianconeri coach. His experience in Ligue 1 makes him a solid option for the backline. Goal reports this. Milan, Allegri thinks of Vlahovic Milan is particularly active in this phase of the transfer market, with the clear goal of adding a striker capable of scoring in double digits. The name at the top of the list, according to is Dusan Vlahovic. The Serbian center forward, leaving Juventus, has long been one of Massimiliano Allegri's favorites. The Tuscan coach, now involved in the Rossoneri project, has asked to deepen contacts with the Bianconeri. The first dialogues, already started for Cambiaso, could facilitate the negotiation. Inter, watch out for Inzaghi's Al Hilal Inter will be able to invest in the market again thanks to a positive balance sheet and revenues exceeding 500 million euros. To these incomes will be added those derived from possible sales. Among the fans' concerns is the risk that Inzaghi's arrival at Al-Hilal attracts profiles like Bastoni and Barella. Advertisement The former was already sounded out by Al-Nassr in January, who stopped in front of the 80 million request. Barella, on the other hand, said no to a monstrous offer of 30 million a year, but Al-Hilal insists. The Saudi club also targets Osimhen, Ederson and Theo, with the goal of delivering a team of stars to Simone Inzaghi by June 18 for the Club World Cup. Repubblica reports this. Napoli, new name for the wing Antonio Conte has clear ideas about the future Napoli: the club is ready to announce the arrival of Kevin De Bruyne at the beginning of next week. The club aims to complete the squad with seven more additions, to best face the four competitions scheduled. Today's edition of Il Mattino reports this. One of the coach's priorities is a right winger capable of providing width and coverage along the entire flank, in support of Di Lorenzo. At the top of the list is Raoul Bellanova, protagonist of a positive season with Atalanta. Purchased for 25 million, he could only leave in the face of a significant offer. Roma, Lucumí liked for defense Roma has targeted Jhon Lucumí to strengthen the defensive department, considering him a primary objective. The Colombian center-back is valued at around 20 million euros by Bologna, which has already rejected lower proposals. TMW. reports this. Advertisement However, it seems complicated that the Emilian club decides to sell both Lucumí and Beukema in the same transfer window. The next few days will be decisive to understand if there will be room for negotiation. The situation remains evolving. Lazio-Castellanos, will it be goodbye in the summer? Taty Castellanos is not among Lazio's untouchables and could leave the club in the summer. According to the club would be willing to consider offers starting from 30 million euros to reinvest for a striker with different characteristics. Castellanos himself seems to consider the idea of a change of jersey, evaluating possible alternatives. The first inquiries have come from the Premier League and Saudi Arabia, but so far without concrete developments. Only concrete proposals could start the negotiation for the farewell. Fiorentina, is Dodo's renewal complicated? Fiorentina has started contacts for the renewal of Dodo's contract, expiring in 2027, but the Brazilian full-back has not yet provided an answer. The club's proposal includes a salary adjustment only at the end of the agreement, an option that does not fully convince the player. The situation is therefore at a standstill, as Il Corriere dello Sport reports. Advertisement This uncertainty has attracted the interest of several European clubs, including Barcelona, Milan and Inter, ready to monitor the evolution of the case. In the last few hours, Juventus has also entered the race for the full-back. Dodô's future therefore remains open to possible developments. This article was translated into English by Artificial Intelligence. You can read the original version in 🇮🇹 here. 📸 Alessandro Sabattini - 2025 Getty Images
Yahoo
2 days ago
- Yahoo
💥 David, Gyökeres updates, Reijnders replacement: today's transfers 🤑
The Italian football transfer market scene is dominated by the issue concerning Inter's bench, still searching for Simone Inzaghi's successor. Obviously, there are many news items: here, we read the most important ones of the day. Juve-David, the decision is expected soon The Canadian, released from Lille, has long been in the sights of several Italian clubs, with Juventus, Inter, and Napoli among the most interested. The Bianconeri, thanks to the work initiated by Giuntoli, have reached a preliminary agreement on a five-year contract worth 6 million plus 2 in bonuses. Advertisement La Gazzetta dello Sport highlights how - now - it is up to Comolli, the new head of Juventus' market, to close the deal or turn elsewhere. With Inter and Napoli slowed down by other fronts, Juve can take advantage to secure the first big hit of the summer. Milan, who will replace Reijnders? After the sale of Reijnders to Manchester City for 75 million, Milan aims to replace him with a physical and technical profile. The first name, as anticipated by La Gazzetta dello Sport, could be Rabiot, currently at Marseille and linked to Allegri: thanks to an informal agreement, he could leave for 10 million. However, according to Matteo Moretto, the path may not be very feasible, so the alternative is represented by Guendouzi from Lazio, a midfielder already tested in Serie A and appreciated for his versatility. Meanwhile, Modric has also arrived, but due to his age, he won't be the only reinforcement: another starter is needed to complete the department. Inter, Correa very close to Botafogo Correa is one step away from transferring to Botafogo. According to Gianluca Di Marzio, the Argentine striker has reached a preliminary agreement with the Brazilian club coached by Jorge. Advertisement To close the deal, only the definition of a signing bonus is missing. Barring surprises, therefore, the former Lazio player is ready to start a new adventure in Brazil. Napoli, striker target: from Gyökeres to... Corriere dello Sport takes stock of Napoli's attack situation. The big dream for the Azzurri is Viktor Gyökeres: 54 goals this season with Sporting Lisbon, but with very high costs and competition from the Premier League and Atletico Madrid, he remains in the background. The Bonny track is more concrete: today, sporting director Manna will meet with Parma to negotiate the 21-year-old Frenchman, valued at 25 million. Inter is lurking. Also in the background are Darwin Núñez (with Atletico ready for an auction) and Sorloth, who scored 20 goals in La Liga: opportunities to seize in a high-intensity attack market. Roma, Krstovic valued at 25 million Roma is looking at Nikola Krstovic to strengthen the offensive department. The Montenegrin closed his second season at Lecce in double figures and, as reported by Il Corriere dello Sport, has attracted the attention of sporting director Ghisolfi. Advertisement The Giallorossi club follows the profile with interest but does not intend to participate in auctions. Lecce, however, starts with a request of 25 million: the negotiation promises to be complicated. Lazio, hunt for a full-back: Sarri will decide Awaiting Sarri's official return scheduled for Thursday, Lazio reflects on the summer market, with particular attention to the left-back role. Nuno Tavares and Pellegrini will be evaluated in retreat, but in the meantime, the club is monitoring two alternatives: Fabiano Parisi, already followed during his time at Empoli, and Junior Firpo, who could arrive on a free transfer. Milan has backed off, leaving space for Lazio to make a move. Fiorentina, sensational: Fatih Terim offered Among the hypotheses for Fiorentina's technical guidance, the name of Fatih Terim emerges. According to the former Viola coach, now at Al-Shabab in Saudi Arabia, has been proposed to the Tuscan club. Advertisement Terim, turning 72 in September, is one of the most successful coaches in Turkish history. In Florence, he left a good memory despite the few months of his first stint, thanks to the brilliant play displayed. A return that would have the flavor of a suggestion. This article was translated into English by Artificial Intelligence. You can read the original version in 🇮🇹 here. 📸 CARLOS COSTA - AFP or licensors
