- New Hope For Indian Startups: SEBI Decides To Double Angel Funding Limit To $1.5 Mn 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 in venture capital undertaking to $1.5 Mn (INR 10 Cr) from the current $770.5 K (INR 5 Cr). SEBI board has approved […]
- 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 Finance to exempt individual angel investors from angel taxes as well. As per Section 56 (II), Income Tax Act 2012, in […]
- Cryptocurrency This Week: Bitcoin Investigation, Fraud And The Rise Of The Dark Knight And More 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 posed by the emerging asset class, Bitcoin has bounced back from the three-month low of $6K to $8.7K. Showing signs of reforms, the cryptocurrency market has increased 54% to […]
- Bitcoin Investigation: Income Tax Issued Notices To 100K Cryptocurrency Traders, Says CBDT 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 Chandra has now clarified that about 100K HNIs who had invested in cryptocurrencies like Bitcoin without declaring the same in ITR were issued notices (by […]
- Pre-2016 Incorporated Startups To Get Angel Tax Exemption On Up To $1.56 Mn Angel Funding 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 startups founded before 2016 and with up to $1.56 Mn (INR 10 Cr) in angel funding will also be eligible for tax exemptions. “We have finalised the conditions […]
- 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 the new service, taxpayers will be able to seek answers to queries pertaining to direct tax. To avail the newly-launched service, taxpayers […]