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09 Aug 2019

Income Tax dept relaxes assessment and scrutiny norms for start-ups

Publication: Business Standard

This article talks about the latest circular issued by Income tax department giving relaxation on angel tax for start-ups. In this circular the Income tax department directed it's officers not to raise additional tax demand for start-ups. 

09 Aug 2019

Startups get a breather! Tax authority eases norms for pending angel tax assessments

Publication: Business Today

This article talks about Finance Minister Nirmala Sitharaman's budget promises to resolve issued related to start-ups. The CBDT has issued a circular relaxing it's assessment and scrutiny norms for such business. 

09 Aug 2019

Taxman will need approval for unrecognised startups’ scrutiny

Publication: The Economic Times

This article talks about FM's assurance in her budget that the Central Board of Direct Tax (CBDT) will take steps to address issues faced by start-ups. Scrutiny of start-ups not recognised by the department on the angel tax issue will be conducted only after sanction from higher authorities.

08 Aug 2019

Relief For Startups: CBDT Lays Out Procedure For Pending Angel Tax Assessment Cases

Publication: The Sen Times

This article talks about the latest framework by CBDT giving relief to start-ups for pending tax assessment. To solve the Angel Tax issue, the start-ups and their investors who file declaration and information in their return file will not be subjected for Angel tax scrutiny 

03 Aug 2019

Angel tax fears make startups wary of M&As

Publication: The Economic Times

This article talks about angel tax fear for start-ups looking for Merger & Acquisition for the their growth. Tax experts says, if they choose to M&A, they will definitely have to face angel tax scrutiny. 

02 Aug 2019

Wait till next budget? Tweaks in I-T law needed to make conversion from trust to company tax-neutral

Publication: The Economic Times

This article talks about converting from trust to LLP or company, Finance Minister on July 5, in budget 2019, raised the surcharge levied on top of the applicable income. FPIs are looking for concessions to convert themselves into companies in order to avoid paying higher surcharges. 

31 Jul 2019

DTC panel to submit its report to government today

Publication: Financial Express

This article talks about a report to be submitted today on 31st July, to the govt. by Direct Tax Code (DTC) panel. Tax experts are expecting to see it providing for a cut in corporate tax rate to 25% and make it easier doing business in India. 

29 Jul 2019

CBDT gives compliance relief to non-resident investors

Publication: The Hindu Business Line

This article talks about Government's plan to attract more investment funds in IFSC (International Financial Services Centre). Non-resident individuals and foreign companies now been given a compliance relief. They do not need to file Income tax return if they meet two conditions issued by CBDT.

26 Jul 2019

Troubled Turf: Finance Minister Nirmala Sitharaman wants tax assessments to be digital and faceless, but the experience so far has been far from desirable

Publication: Business Today

This article talks about the govt's new agenda of face-less tax assessment. According to experts this might lead to more disputes unless you meet tax person face to face. Earlier it was started in 2015-16 as a pilot project to test efficiency and transparency. 

25 Jul 2019

Uphill climb for big firms wanting corporation tax reduced to 25%

Publication: Business Standard

This article talks about corporate tax liable to large firms earning more than Rs. 400 crore. The plan to extend corporate tax rate reduction to 25 per cent for large firms may become challenging with revenue foregone on account of tax incentives and exemptions growing at a rapid pace. 

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