New Delhi, May 31 (KNN) A reconstituted inter-ministerial board will soon review all applications of start-ups that are seeking income tax (I-T) exemptions, said Ramesh Abhishek, Secretary of Department for Promotion of Industry and Internal Trade (DPIIT).

He said that they have revised norms for these exemptions and now, a large number of start-ups would be covered.

In a recent tweet, Abhishek said “Reconstituted inter-ministerial board shall soon review all applications of eligible startups for tax exemption under section 80 IAC of IT Act. We have also revised norms for such exemption. Large number of startups will now get covered, including those not accepted previously.”

The board set up comprises of Secretary from DPIIT and representatives from the Department of Biotechnology, and the Department of Science and Technology.