Required Documents for Application

To apply for 80-IAC exemption, the following documents are required:

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:
o 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.
o 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:
 Patent/Copyright/Industrial Design filings.
 Official journal publications of patents/copyrights/designs.
 Granted patents/copyrights/designs, if applicable.
8. Awards and Recognitions: Proof of awards at different levels:
 District-level awards by government or corporate entities.
 State-level awards by government authorities.
 National-level awards by government bodies or recognized 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:
 Declaration Regarding Employees Pursuing/ Holding M.Tech/PhD Degrees
and Research Papers/Publications (Annexure 3)
 Total direct employment details (Annexure 4)
  Employment of Females, Persons with Disabilities, Persons from SC/ST
Categories (Annexure 4)
 Employees Based in Non-Metro Cities (Annexure 4)
11. Proof of Investment Received (Annexure 5):
 Declaration Regarding Funding Obtained and Investor Details
 Term sheets, investment agreements, or bank statements showing external
funding amounts; Investor certificates, funding agreements, or tax
returns/GST filings substantiating revenue figures.
Annexure 1: Declaration for Formation of Startup

Subject: Declaration for Formation of Startup for Availing Income Tax Benefit under
Section 80-IAC of the Income Tax Act, 1961 (Suggested Format on company's
letterhead):
We, [Name of the Company], having our registered office at [Address], hereby declare
the following with respect to the formation of our startup:
We hereby confirm that:
- The startup has not been formed by the splitting up or reconstruction of an already
existing business, except under the circumstances specified under Section 33B of the
Income Tax Act, 1961.
- The startup has not been formed by the transfer of machinery or plant previously used
for any purpose to the new business.
(This condition shall not apply to startups formed as a result of the re-establishment,
reconstruction, or revival of a business under Section 33B of the Income Tax Act, subject
to the circumstances and timeline specified therein.)
Signature of Director/s or Partner/s and Stamp of the Company
We certify that the information stated above is accurate and compliant with the applicable
provisions of the Income Tax Act, 1961. This certificate is issued based on the
examination of the company’s records and financial statements. We declare that the
information provided above is true and accurate to the best of our knowledge and belief.
We understand that any misrepresentation or false information may result in the rejection
of our application and potential penal consequences as per applicable laws.
Details of the CA
Note: The declaration must be:
o On the letterhead of the company, Signed by the Directors/Partners of the startup.
o Validated and certified by an authorized Chartered Accountant (CA) with their
official stamp and Membership Number.
Annexure 2: Declaration of Scalability
Subject: Declaration of Scalability for Availing Income Tax Benefit under Section
80-IAC of the Income Tax Act, 1961 (Suggested Format on Company's letterhead):
We, [Name of the Company], having our registered office at [Address], hereby declare
that the company satisfies the scalability requirement for availing income tax benefits
under Section 80-IAC of the Income Tax Act, 1961, based on the following criteria:
We confirm that the company has demonstrated scalability in terms of revenue growth as
per the prescribed criteria:
☐ More than 10% growth in revenue from one financial year to the next in the latest year
☐ More than 25% cumulative growth in revenue over a period of the last two financial
years
☐ More than 33% cumulative growth in revenue over a period of the last three financial
years
(Tick the applicable option/s)
We have submitted the following supporting documents to substantiate the above claim
in our application:
- Audited financial statements (Balance Sheet and Profit & Loss Statement) for the
relevant financial years
- Income Tax Return Acknowledgement for the relevant financial years
We declare that the information provided above is true and accurate to the best of
our knowledge and belief. We understand that any misrepresentation or false
information may result in the rejection of our application and potential penal
consequences as per applicable laws.
Note: The declaration must be:
o On the letterhead of the company, Signed by the Directors/Partners of the startup.
o Validated and certified by an authorized Chartered Accountant (CA) with their
official stamp and Membership Number.
Annexure 3: Declaration Regarding Employees Pursuing/ Holding M.Tech/PhD
Degrees and Research Papers/Publications

Subject: Declaration Regarding Employees Pursuing/ Holding M.Tech/PhD

Degrees and Research Papers/Publications (Suggested Format on Company's
Letterhead):
This letter serves as a request for the declaration regarding the status of employees
pursuing or holding a M.Tech/PhD degree and the involvement of employees in research
activities within your organization. Kindly provide the necessary details based on the
following categories, along with relevant proof wherever applicable:
☐ 1-10% employees pursuing/holding a M.Tech/PhD degree (including 10%) and/or at
least 1 Research Paper/presentation presented by employees at a national/international
conference
☐ 10-25% employees pursuing/holding a M.Tech/PhD degree (including 25%) and/or at
least 1 Research Paper published by employees in a National Journal (Indexed in:
Scopus, UGC-CARE (Group I & II), ESCI (Emerging Sources Citation Index))
☐More than 25% employees pursuing/holding a M.Tech/PhD degree and/or at least 1
Research Paper published by employees in an International Journal (Indexed in: SCI
(Science Citation Index), SCIE, SSCI, Scopus, Web of Science)
(please confirm the applicability by ticking the box and attach a copy of the published
research paper along with the journal details)
Please ensure that all supporting documentation is attached as proof for the claims
mentioned above, including but not limited to:
- Evidence of research papers/presentations (e.g., conference abstracts, publication links,
copies of published articles)
- Journal indexing details (for publications in Scopus, UGC-CARE, SCI, SCIE, etc.)
Note: The declaration must be on the letterhead of the company, Signed by the
Directors/Partners of the startup.
Annexure 4: Employment Declaration
Subject: Declaration Regarding Employment Details (Suggested Format on
Company's Letterhead)
This letter serves as a request for the declaration on the following employment-related
details, as required for [mention purpose, e.g., regulatory reporting, compliance check,
etc.]. Kindly provide the necessary details based on the categories listed below:
1. Direct Employment (If applicable, please confirm by ticking the box)
Please confirm the number of employees based on the following categories:
☐Less than 20 employees
☐Between 21 - 50 employees
☐Between 51 - 100 employees
☐More than 100 employees
2. Employment of Females, Persons with Disabilities, Persons from SC/ST Categories
Please indicate the percentage of employees in the categories of Female, Persons with
Disabilities, and SC/ST:
☐0%
☐1-25% (including 25%)
☐25-50%
☐More than 50%
3. Employees Based in Non-Metro Cities
Please confirm the percentage of employees located in non-metro cities:
☐0%
☐1-25% (including 25%)
☐25-50%
☐More than 50%
Kindly provide the necessary declarations by ticking the appropriate boxes for each
category mentioned above and attach any supporting documents (if applicable). The
information provided should be accurate and up-to-date.
Note: The declaration must be on the letterhead of the company, Signed by the
Directors/Partners of the startup.
Annexure 5: Funding Declaration

Subject: Declaration Regarding Funding Obtained and Investor Details

(Suggested Format on Company's Letterhead):
This letter serves as a request for the declaration regarding the funding obtained by our
company, as per the categories outlined below. Kindly note that we have attached the
relevant supporting documentation for your reference.

Funding Received:
Please find the details of the funding obtained by [Company Name] in the following
categories:

Up to 1 Crore (including 1 Crore)

[ ] Confirmed (Amount: [Insert Amount])

From 1 Crore to 10 Crore (including 10 Crore)

[ ] Confirmed (Amount: [Insert Amount])

More than 10 Crore

[ ] Confirmed (Amount: [Insert Amount])

Investor Details:

In accordance with the funding obtained, please find below the details of the investors
who have contributed to the funding:

Investor 1 Name: [Insert Name]

Investment Amount: [Insert Amount]

Investment Date: [Insert Date]

Type of Investment: [Equity/Loan/Convertible Note/Other]

Investor 2 Name: [Insert Name]

Investment Amount: [Insert Amount]

Investment Date: [Insert Date]

Type of Investment: [Equity/Loan/Convertible Note/Other]

[Continue adding more investors as needed]

Supporting Documentation:
We have attached the relevant proof of funding obtained, including but not limited to:
- Official funding letters

- Bank statements showing the receipt of funds

- Investment agreements or term sheets

- Other relevant documents substantiating the funding

Kindly ensure that the information provided is accurate and that all required
documentation is included. If further details or clarification are needed, we are
available to provide additional information or documentation as requested.