Three points you will get to know in this article: Jio Financial Services (JFS), recently separated from Reliance Industries Ltd (RIL), has formally approached the Reserve Bank of India (RBI) to undergo a transformation from a non-banking financial company (NBFC) to a core investment company (CIC), as mandated by regulatory requirements. The Rationale Behind the Shift Having successfully debuted on…
Three points you will get to know in this article: October witnessed a promising surge in investments for Indian startups, aligning with historical patterns. This noteworthy uptick in monthly financial support arrives just as startups within the ecosystem are rallying to navigate through the challenges of funding constraints. Notably, an intriguing aspect is that a substantial one-third of the total…
Three points you will get to know in this article: This week witnessed a downturn in the performance of Indian new-age technology stocks, mirroring the broader market’s decline. The setback was attributed to a combination of mixed Q2 earnings reports from various companies and escalating geopolitical tensions.Within the realm of Inc42’s coverage, 11 out of the 18 new-age tech stocks…
Three points you will get to know in this article: Amidst the ongoing debate swirling around startups receiving notifications under Section 56(2)(viib), commonly known as the angel tax, and being tasked with presenting income tax returns (ITRs) from their stakeholders for the preceding three years, the Central Board of Direct Taxes (CBDT) has disseminated a circular to its esteemed senior…
Three points you will get to know in this article: Since the announcement in 2019 regarding the exemption of angel tax for startups, the Department for Promotion of Industry and Internal Trade (DPIIT) revealed that 8,066 startups, officially recognized by DPIIT, have successfully secured exemption from angel tax. This information was disclosed in response to a Right to Information (RTI)…
Three points you will get to know in this article: Once again, the online gaming sector finds itself in the crosshairs, grappling with a barrage of demand notices and show-cause directives. This time, tax authorities allege non-payment of Goods and Services Tax (GST), intensifying the scrutiny on industry players. Informed sources revealed to CNBC-TV78 that the Directorate General of Goods…
Three points you will get to know in this article: A coalition of Indian enterprises and emerging businesses has collaboratively formed a robust 40-member task force to confront Google, specifically targeting the Google Play Billing System (GPBS). This insightful revelation was shared by individuals privy to the matter with ET. Distinguished personalities within this task force include the visionaries behind…
Three points you will get to know in this article: The recent tax notice sent to Delta Corp, India’s leading casino operator, has sparked a renewed discussion regarding the calculation of GST payments by casino operators. The crux of the matter revolves around whether this levy should be based on the gross gaming value, which encompasses the total amount wagered…
Three points you will get to know in this article: Flipkart, the prominent e-commerce giant, is earmarking approximately $15-20 million to support the development of an in-house credit marketplace startup led by its senior executive, Prakash Sikaria. This information has been confirmed by multiple sources familiar with the situation. Prakash Sikaria, a Senior Vice President within the company, previously responsible…
Three points you will get to know in this article: According to persons familiar with the situation, Byju’s, India’s most valuable startup, is conducting a strategic evaluation of all assets acquired in the last few years in order to sell non-core subsidiaries and refocus its focus back to core, profitable industries. According to the sources referenced above, Byju’s plans to…
