The Economic Times | A Times Internet Limited product
government is contemplating hike in the investment limit for availing income tax concessions by startups and provide a more clear definition for the purpose, sources have said. Officials of the department for promotion of industry and internal trade (DPIIT) and Central Board of Direct Taxes (CBDT) are holding series of meetings to find a solution of the angel tax issue being raised by startups..
The Economic Times | A Times Internet Limited product
government is contemplating hike in the investment limit for availing income tax concessions by startups and provide a more clear definition for the purpose, sources have said. Officials of the department for promotion of industry and internal trade (DPIIT) and Central Board of Direct Taxes (CBDT) are holding series of meetings to find a solution of the angel tax issue being raised by startups.
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The Economic Times | A Times Internet Limited product
The government has eased the procedure for startups to seek income tax exemption on investments from angel funds as part of efforts to address concerns of budding entrepreneurs, official sources said.
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#NewIncomeTaxSlab #NirmalaSitharaman #IncomeTax #NewFinancialYear #TaxSavings #Taxfreelimit
If you want to save your tax this year, then this news is for you.
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The Centre will form a committee to resolve issues within the next 4-5 days concerning the levy of angel tax on startups, a senior official said on Monday. This was conveyed to the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary, Ramesh Abhishek, following his meeting here with over 50 entrepreneurs, startups and investors who voiced their concerns on angel tax.
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In a major relief to entrepreneurs and startups, Finance Minister Nirmala Sitharaman on Friday announced that the 'angel tax' provision will be withdrawn for startups and their investors. Announcing measures to boost the subdued economy, the Finance Minister said that Section 56 2(b) of the Income Tax Act will not be applicable on startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT)
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The Economic Times | A Times Internet Limited product
Watch No Angel Tax for DPIIT registered startups: Nirmala Sitharaman With HD Quality
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As the state government is approaching a new budget date on January 11, the Federation Chamber of Industries Kashmir (FCIK) is demanding that the disparity created by two SROs should be addressed at the earliest. They said some of the units are on the brinks of closure because pf the bag economic environment and the twin SROs are adding to their crisis.
“The government issued two SROs – No 519 and 521, under which they would be offering tax concessions in both CGST and SGST to select units operating in the state,” Mukhtar Yousuf, FCIK president said. “We are asking the government why it will not extend to these concessions – at least in the SGST, to the units operating in the state.” They said they are seeking full reimbursement on SGST on the full bill amount.
News video | 1076 views
More than Rs. 12,000 crore has been given as tax concessions to the salaried professionals and senior citizen in the Budget 2018-19. You cannot name one Budget under Congress that has given such concession to the middle class.
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#crypto #blockchain #startup
Crypto Vs Blockchain Startup
There are many Indian companies working actively in the crypto space. India's crypto industry attracts foreign funds, but local investors remain wary. Cryptocurrency has seen tremendous growth in the last one year and from a consumer and technology standpoint, India is an important destination for cryptos. The venture capital companies including Sequoia Capital India, Lightspeed India, Elevation Capital and others are warming up to India’s cryptocurrency and blockchain industry. Several international funds such as Pantera Capital and Coinbase Ventures, and entrepreneur investors like Mark Cuban, have been investing in blockchain and crypto startups founded by Indians.
The absence of regulatory approval and the possibility of a blanket ban has, however, kept most Indian funds at bay, despite the heightened interest in crypto and blockchain. Despite the regulatory uncertainty and the volatility of cryptocurrencies, Indian start-ups in the space saw funding grow 73% in the first six months of calendar 2021 compared to the whole of 2020.Total funding year-to-date in 2021 stood at $50.03 million against the $28.85 million raised by cryptocurrency-based start-ups in 2020, according to data from Tracxn. A report says, the lockdown in 2020 had led to increased activity in the cryptocurrency market as retail and institutional investors turned to this investment avenue as volatility hit the stock market. Blockchain faces hurdles, including volatility in cryptocurrency pricing and confusion and misunderstanding from many consumers about the technology and related financial services, experts say.
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In back-to-back moves aimed at defusing Ukraine's political crisis, the prime minister resigned Tuesday and parliament repealed anti-protest laws that had set off violent clashes. The twin moves are significant concessions to protesters. (Jan. 28)
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