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Articles for Dpiit, search results for tax

India’s trade department partners with gaming platform WinZO for a global powerup
1 month, 2 weeks ago

India’s trade department partners with gaming platform WinZO for a global powerup

Live Mint  

New Delhi: The Department for Promotion of Industry and Internal Trade has entered into a two-year partnership with social gaming platform WinZO to boost India’s position in the global gaming market, a senior commerce ministry official said on Tuesday. This collaboration aims to nurture over 2,000 startups, innovators, and students in the interactive entertainment space through mentorship, workshops, accelerator programmes, …

Global India Gaming Dpiit
DPPIT Recognized Start-Ups Not to Face Verification On Account Of Angel Taxation: CBDT
1 year, 2 months ago

DPPIT Recognized Start-Ups Not to Face Verification On Account Of Angel Taxation: CBDT

Live Law  

The Central Board of Direct Taxes has notified that the Department for Promotion of Industry and Internal Trade recognized start-ups will not face verification on account of angel taxation.When an unlisted company sells shares to a buyer for more than their fair market worth, angel tax, which is income tax at a rate of 30.6%, is assessed. The Central Board …

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'Angel Tax' Provisions In Finance Bill Will Not Impact Startups: DPIIT Secy
1 year, 10 months ago

'Angel Tax' Provisions In Finance Bill Will Not Impact Startups: DPIIT Secy

ABP News  

The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. It doesn't affect startups in the least,” he said, addressing the audience at the event organized by the venture capital industry lobby grouping. Startups were rattled because of the proposed changes in regulations in the Finance Bill through the …

India Startup Startups Jain Finance Bill
Opinion | The decline of tax demons and the ascent of angels
5 years, 4 months ago

Opinion | The decline of tax demons and the ascent of angels

Live Mint  

On 23 August 2019, finance minister Nirmala Sitharaman, while announcing the non-applicability of Section 56 of the Income Tax Act, 1961, popularly referred to as “angel tax” on startups registered with department for promotion of industry and internal trade, reassured entrepreneurs that the government was already sensitized to the importance of the startup ecosystem and was taking all possible steps …

India Startup Startups Issue Angel Dpiit Tax Demons
Government extends relief to startups, simplifies the process of angel tax assessment
5 years, 5 months ago

Government extends relief to startups, simplifies the process of angel tax assessment

Op India  

In a major relief to startups, the Narendra Modi government has decided to simplify the angel-tax assessment process under which any action against startups will be taken only after approval of a supervisory officer. In such cases where scrutiny assessments of startup entities are pending, the CBDT has decided that the contention of the assessee will be summarily accepted whose …

Tax Startup Startups Issue Dpiit
Relief for startups: CBDT lays out procedure for pending angel tax assessment cases
5 years, 5 months ago

Relief for startups: CBDT lays out procedure for pending angel tax assessment cases

Firstpost  

New Delhi: Giving a relief to startups, the government has laid out a procedure to address pending angel tax assessments under which action would be taken only after approval of a supervisory officer. Similarly, it said the applicability of angel tax would not be pursued during the assessment proceedings and “inquiry or verification with regard to other issues in such …

Tax Startup Assessment Startups Officer Angel Dpiit
Forget about taxman, focus on business: CBDT to startups
5 years, 6 months ago

Forget about taxman, focus on business: CBDT to startups

Live Mint  

New Delhi: The country's startup community should not worry about taxmen and concentrate on their businesses as concerns related to 'angel tax' have been "sorted out", CBDT chief P.C. All "legacy issues" related to startups will be resolved through a consultative process and under the strict supervision of senior officers of the tax authority. Asked about the "administrative arrangements" that …

Tax Startups Department Sitharaman Issues Dpiit Mody
Union Budget 2019: From tax cuts to lowering of AFT pricing, Corporate India presents its wish list to Nirmala Sitharaman
5 years, 6 months ago

Union Budget 2019: From tax cuts to lowering of AFT pricing, Corporate India presents its wish list to Nirmala Sitharaman

Firstpost  

Union Budget 2019-20 will be presented by Finance Minister Nirmala Sitharaman on 5 July. The government also needs to review the aviation policy and address the challenges especially bilateral policy, and help create an ecosystem that recognizes and supports the aviation industry’s viability. Mahesh Iyer, Executive Director and Chief Executive Officer, Thomas Cook The travel and tourism industry is a …

Finance India Growth China Industry Tax Hope
DPIIT for shortening compliance time to just 1 hour per month for startups to ease regulatory requirements
5 years, 7 months ago

DPIIT for shortening compliance time to just 1 hour per month for startups to ease regulatory requirements

Firstpost  

At present, startups comply with a plethora of requirements such as GST filings, tax returns and other local laws every month, the official said. New Delhi: The Commerce and Industry Ministry has proposed cutting down compliance time significantly to just one hour per month for startups as part of measures to ease regulatory requirements for budding entrepreneurs, an official said. …

India Tax Startup Startups Month Dpiit Budding Entrepreneurs
DPIIT proposes relaxation in income tax law to help startups raise funds; tax incentives for budding entrepreneurs on the cards
5 years, 8 months ago

DPIIT proposes relaxation in income tax law to help startups raise funds; tax incentives for budding entrepreneurs on the cards

Firstpost  

The document aims at facilitating setting up of 50,000 new startups in the country by 2024 and creating 20 lakh direct and indirect employment opportunities. New Delhi: With a view to facilitate fundraising by startups, the Department for Promotion of Industry and Internal Trade has proposed relaxation in the income tax laws pertaining to sale of residential properties and carrying …

Startup Dpiit Residential Properties Tax Incentives Budding Entrepreneurs
CBDT notifies relaxed norms for start-ups
5 years, 10 months ago

CBDT notifies relaxed norms for start-ups

Live Mint  

New Delhi: The Income Tax Department has notified the modified norms for start-ups to enable them to seek 'angel tax' exemption for investments of up to ₹25 crore. The DPIIT, under the commerce and industry ministry, on 19 February raised the investment limit for 'angel tax' exemption to ₹25 crore and extended the period of availing benefits to 10 years …

Tax Income Tax Act Dpiit Cbdt Relaxed Norms
Govt may exempt DPIIT-certified startups from angel tax; likely to raise investment limit to Rs 25-40 crore
5 years, 10 months ago

Govt may exempt DPIIT-certified startups from angel tax; likely to raise investment limit to Rs 25-40 crore

Firstpost  

The consideration assumes significance as several startups have claimed to receive angel tax notices, impacting their businesses. New Delhi: The government is considering giving complete exemption to startups from angel tax once they are certified by the Commerce and Industry Ministry, a move aimed at helping budding entrepreneurs, official sources said. Giving relief to budding entrepreneurs last year, the government …

Tax Startup Startups Income Angel Exemption Exempt
I-T Department to soon decide on startups to be exempted from angel tax; multilayer checking system in place to find eligible firms
5 years, 11 months ago

I-T Department to soon decide on startups to be exempted from angel tax; multilayer checking system in place to find eligible firms

Firstpost  

Last month, the government eased the procedure for seeking income tax exemption by startups on investments from angel funds and prescribed a 45-day deadline for a decision on such applications. New Delhi: The Income Tax Department will soon decide on the kind of startups that can be exempted from angel tax, a top official said on Thursday. Central Board of …

Tax Startup Startups Income Angel Dpiit
Govt to form working group to resolve angel tax issue of startups
5 years, 11 months ago

Govt to form working group to resolve angel tax issue of startups

Live Mint  

The government has decided to form a small working group to look into the issue of angel tax being faced by startups and come out with a workable solution in 4-5 days, a top official said Monday. CBDT member Akhilesh Ranjan, who attended the meeting said, investors, entrepreneurs and founders have raised this issue and they were explained why this …

Tax Startup Income Tax Startups Income Issue Angel