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…
At FORT North America 2023, we’re excited to introduce you to six dynamic startups from around the globe. Among them, two hail from India, shining a spotlight on the country’s thriving startup landscape. These innovative entrepreneurs will captivate you with their engaging five-minute elevator pitches. The Sovereign Wealth Fund Institute (SWFI) announced on Wednesday that its Family Office Round Table…
