Angel Tax

Angel tax another hiccup for Indian startups amid the funding winter

Previously, many stakeholders had suggested the exclusion of investments from foreign companies in startups from the Angel Tax regime

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The angel tax is on the amount received as more than fair market value as income in the hands of a company

Industry watchers believe that early-stage start-ups will bear most of the brunt, as the segment witnesses comparatively higher deviation in allotted share prices and FMV

More than 84,000 DPIIT-recognised start-ups in the country, data shows

Sitharaman also said a dedicated cell will be set up under a member of the Central Board of Direct Taxes for addressing issues faced by start-ups

The Rs 70,000-crore recapitalisation announced in the Budget will be sped up

The government's recent decision to give relief to start-ups on assessment of angel tax notices would provide a safeguard to them and promote their growth, according to experts. Seeking to calm the nerves of start-ups worried about angel tax, the government last week assured that explanation given by them to a tax notice in a limited scrutiny case would be summarily accepted without any questions asked by the taxman. The Central Board for Direct Taxes' (CBDT) circular with this effect "brings in more safeguard by requiring assessing officers to procure his or her supervisor's consent before starting on any inquiry under the angel tax provision against a start-up company which has not got DPIIT approval," S. Vasudevan, Partner, Lakshmikumaran & Sridharan said. However, he added that the circular does not specify any minimum rank of the consenting superior officer. "Also, lack of guidelines as to how the assessing officer or his supervisory officer selects cases for scrutiny may ...

From Anil Agarwal pulling out of race for acquiring grounded Jet Airways to poorer states scoring big in GST mop-up, here are the top business headlines on Tuesday

After protests by start-ups, the government had raised the threshold for availing angel tax exemption for these companies, besides widening their definition

In cases where start-ups are recognised by the DPIIT but scrutiny involves wider issues, the I-T dept has asked its field formations not to pursue the issue of angel tax during assessment proceedings

No verification will be done by an assessing officer if a startup has been recognised by DPIIT and the case is selected under limited scrutiny

Penalty of 200% for not complying with the conditions laid down for availing angel tax exemption

Central Board of Direct Taxes (CBDT) Chairman P C Mody told PTI in an interview that all "legacy issues" related to start-ups will be resolved through a consultative process

Govt proposes e-verification mechanism to do away with any engagement between an enterprise and a tax officer, which many had called out as akin to harassment

EY analyses Nirmala Sitharaman's Budget 2019 for Business Standard, comparing the expectations of five key sectors of the economy and what they actually got in Budgetary provisions

The 'angel tax' is triggered when any start-up raises equity funding in excess of its 'fair valuation', the premium is treated as income, attracting over a 30 per cent tax

Other demands include pass-through for losses, tax cut on management fee