Fuselage Innovations, a deep-tech startup, has been granted the 80-IAC Tax Exemption Certificate by the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.
The certificate, issued under the Startup India initiative, offers eligible startups a 100 per cent income tax exemption on profits for any three consecutive financial years within the first ten years of incorporation. With fewer than 200 startups across the country receiving this distinction to date, Fuselage Innovations now joins an elite group recognised for their financial discipline, innovation, and regulatory compliance, said a press release.
With this tax exemption in place, Fuselage Innovations is now able to offer drones and drone-based services at significantly reduced costs, making advanced aerial solutions more accessible to farmers, institutions, and local governing bodies. The company has also launched subsidised service models (40-80 per cent subsidy) for specific applications like precision agriculture and educational training, ensuring that drone technology reaches even underserved and remote areas.
President of the India SME Forum, said, “This will give startups much-needed breathing room to innovate and scale up without the immediate pressure of tax burdens”.
