Tax Exemptions For Incubatee Companies

As per Notification No. 9/2007 - ST dated 1.3.2007 by the Department of Revenue, Ministry of Finance, Government of India all taxable services provided by entrepreneur are exempt from the levy of Services Tex subject to the following conditions:

  1. The venture of the entreprenuer must be located within the premises of the recognised STEP or TBI.
  2. The entrepreneur has entered into an agreement with the STEP or the TBI as an Incubatee to enable himself to develop and produce hi-tech and innovative product.
  3. The total business turnover of such entrepreneurs does not exceed Fifty Lakh Rupees during the previous financial year.

The entrepreneur can avail of the exemption for a period of THREE years from the date he/she enters into an agreement with the STEP/TBI.

About Us

Technology Business Incubator (TBI) is an initiative of Department of Science and Technology (DST), Government of India, promoted by Society for Innovation & Entrepreneurship in Dairying (SINED), hosted by National Dairy Research Institute, Karnal. TBI promotes the concept of growth through innovations and applications of technology, support, economic development strategies for Small Business Development.

 

 

 

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Contacts

National Dairy Research Institute Campus
Karnal - 132001
India.
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 +91 184-2259291, 2259329, 2251347