Siddarth Pai

The 3one4 Capital founder was speaking at an AMA Session with Inc42

Startups are now shifting their base to countries like Singapore and the US, says Pai

Appeals against I-T demands can take from 2-3 years to up to 10 years to resolve, he says

CAs and merchant bankers also claim to have received income tax notices

Startups need not make any payments regarding tax demand orders, says CBDT

The CBDT notice does not delve into the valuation method details

Only 1% of recognised startups have received angel tax exemption

Assessing officers often reject the startups’ method of valuation

Why all startups not exempted from angel tax, asks fraternity

According to Pranav Pai, founding partner at 3one4 Capital, most founders creating value today are in their 20s and 30s

The average age at 3one4 Capital is 26 years; more than 50% of the employees are women

On being the son of former Infosys CFO and Padma Shri Awardee Mohandas Pai, Pranav says legacy does give people access but it is critical they don’t take it for granted