The Centre is reportedly planning to let startups issue half their paid-up capital as sweat equity and extend the exemption period for several regulatory restrictions
1 min read5 Nov 2019Small startups with turnover up to ₹25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act 1961, CBDT saidThe CBDT further said it did not recognise the ₹100 crore turnover definition of a small startup put up by the DPIIT
2 min read22 Aug 2019The government reconstitutes an inter-ministerial board to review applications from startups for tax reliefThe benefit under section 80IAC allows startups with up to ₹25 crore in sales to deduct their entire income from eligible operations while calculating taxable income
2 min read30 May 2019In a recent meeting with senior finance ministry officials, the real estate developers have been asked to suggest steps to address challenges faced by the sectorTo perk up demand in the sector, the GST Council had cut tax rates on new projects under affordable housing to 1%
1 min read29 May 2019The commerce ministry has suggested the finance ministry to consider raising tax holiday for start-ups to 7 years from the current 3 years
1 min read17 Jan 2017The NITI Aayog says 10-year tax holiday for firms in electronics manufacturing will help bring some large foreign firms into India
2 min read5 Jun 2016Nirmala Sitharaman says her ministry has recommended to the finance ministry to raise the tax holiday for start-ups to 7-years from the current 3-years
1 min read30 May 2016As many as 50 start-ups and over 70 budding entrepreneurs are expected to participate in the interaction with the commerce and industry minister
1 min read16 Apr 2016Sometimes, the best practice a government can adopt is to stay away
3 min read18 Jan 2016Firm claims to have correctly claimed exemption of excise duty
1 min read6 Apr 2015The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared