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Income Tax Dept. Launches Online Chat Service To Answer Queries Of Taxpayers

The Income Tax Department of the Government of India has recently announced the launch of an online chat service to make the process of filing income tax returns easier and less complicated. Through...

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Pre-2016 Incorporated Startups To Get Angel Tax Exemption On Up To $1.56 Mn...

Amid growing protests from Indian startups, entrepreneurs and angel investors, the Department of Industrial Policy and Promotion (DIPP) has announced another exemption regarding angel tax, stating that...

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Bitcoin Investigation: Income Tax Issued Notices To 100K Cryptocurrency...

Amid Bitcoin bubble burst, perhaps the largest since Tulipmania, in contrast to the earlier reports which said that 400-500 HNIs had been issued notices over Bitcoin trading, CBDT Chairman Sushil...

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Cryptocurrency This Week: Bitcoin Investigation, Fraud And The Rise Of The...

As the US regulatory authorities Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have finally softened their stance towards cryptocurrency trading amid risks...

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DIPP Mulls To Exempt Individual Angel Investors From Angel Tax

In conjugation with DIPP, after CBDT recently issued a circular instructing IT officials not to take any coercive measures to recover angel tax from startups, DIPP is now in talks with the Ministry of...

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New Hope For Indian Startups: SEBI Decides To Double Angel Funding Limit To...

With plans to offer a major boost to angel funding in startups, the SEBI (Securities and Exchange Board of India) has reportedly given indications to double the maximum investment limit by angel funds...

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Tax Regulator Rules Out Coercive Action In Angel Tax Issue

The Central Board of Direct Taxes (CBDT) issued a clarification over the angel tax furore and said that no coercive action/measures to follow up on the notices under Income Tax (I-T) act would be...

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Startup Policy Rundown: Gujarat Tops DIPP State Startup Ranking, Ecommerce...

Tis was a season to be merry. Tis was also a season for policy updates. This past month, despite the festivities and the holidays, there have been a host of developments on the policy front. Among the...

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The Bane of Angel Tax: A Brief Timeline

Introducing the Finance Bill in the Lok Sabha on March 16, 2012, the then finance minister Pranab Mukherjee had stated, “I had outlined a five-pronged strategy to tackle the malaise of generation and...

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DIPP To Hold A Roundtable To Discuss Angel Tax Exemption Framework

After having issued two notifications — a CBDT notification on December 24 and another by the Department of Industrial Policy and Promotion (DIPP) on January 16 —  the Centre is now organising a...

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Govt To Form A Working Group To Assess Angel Tax Debate

The government has decided to form a small working group to assess the much-debated Angel Tax issue, the Department for Promotion of Industry and Internal Trade (DPIIT) secretary Ramesh Abhishek said....

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Angel Tax: DPIIT Accepts Working Group Demands, Formal Notification Soon

The Department for Promotion of Industry and Internal Trade (DPIIT) has accepted most of the Working Group demands pertaining to the angel tax exemption. Multiple members of the Working Group who...

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So Close, Yet So Far: Angel Tax Notification Fails To Address Vital Issues

After a months-long fight, Indian startups have something to celebrate today. What started as a tweet by a disgruntled Bengaluru-based entrepreneur on 17th December 2018 snowballed into a Twitter...

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CBDT Seeks Details Of Startups With Angel Tax Notices

In the days following the Department for Promotion of Industry and Internal Trade (DPIIT) notification to grant relief to startups under Section 56 (2) (viib) of the Income Tax Act 1961 earlier this...

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CBDT Agrees With DPIIT’s Angel Tax Notification, But No Respite For Existing...

The Central Board of Direct Taxes (CBDT) on Tuesday (March 5) said that startups which received assessment notices under Section 56(2)(viib) of the Income Tax Act (I-T Act) will be exempt from Angel...

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CBDT Starts Acknowledging Angel Tax Submissions But It’s Not Enough, Say...

The Central Board of Direct Taxes (CBDT) has started sending acknowledgement emails to the startups who have filed Form 2 of the Section 56 Exemption Declaration certificate. Startup stakeholders...

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No Incorporation Fee For Startups With Capital Upto INR 15 Lakh

The Ministry of Corporate Affairs (MCA) has exempted incorporation fee for the startups that have incorporated nominal capital of less than or equal to INR 15 Lakh. This notification has come into...

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Angel Tax Is Close To An End: 277 Startups Get I-T Clearances

In a movement showing the power of collaboration, the angel tax relief announced by the Department for Promotion of Industry and Internal Trade (DPIIT) is bringing about change as 277 startups get an...

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Govt To Ease Income Tax Norms To Help Startups Receive Benefits

After being re-elected for the second term, the Modi-led government is now planning to ease the tax norms to provide advantages to startups under the income tax law which allow 100% tax deduction. In...

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India Sets Up Inter-Ministerial Board To Review Startup Tax Exemption...

Even as startups look towards the government to solve the credit crunch issues and funding slowdown in certain sectors, the Department for Promotion of Industry and Internal Trade and Startup India...

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Govt Might Apply Direct Taxes On Global Cos Like Facebook, Amazon: Report

Indian government is reportedly looking to levy direct taxes on foreign technology companies who earn more than INR 20 Cr in revenue and has over 500K users from India. This would mean that major tech...

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Angel Tax Relief For Startups As CBDT Simplifies Exemption Process

Giving relief to startups amidst the pending angel tax assessment issues, the Central Board of Direct Taxes (CBDT) has come out with a framework to be followed by the assessing income tax officers for...

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