Tag: Start-ups
Companies (Acceptance of Deposits) Rules 2014 relaxed for Startups who can now receive convertible note up to 25 lakhs for ten years MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 7th September, 2020 G.S.R.548(E).—In exercise of the powers conferred by section 73 read with sub-sections (1) and (2) …
Additions agreed during assessment proceedings can be challenged in appeal when assessee itself not made disallowance in return of income ABCAUS Case Law Citation:ABCAUS 3213 (2020) (01) ITAT Important case law relied upon by the parties:CIT vs. Everest Kento Cylinders Ltd (2015)(58 taxmann.com 254)(378 ITR 57), In the …
Income Tax Exemptions to Startups. Under Startup India Initiative recognized startups have been exempted under several sections of IT Act. Tax Exemptions to Startups Under Startup India Initiative recognized startups have been exempted under several sections of IT Act. Details are enclosed at Annexure-I. The Fund of …
CBDT directions for handling startups grievances and addressing tax related issues CBDT directions for handling startups grievances In August 2019, a Startup Cell had been created at the CBDT level for handling redressal of grievances of Startups and addressing its tax related issues. In furtherance of the above, …
CBDT Consolidated circular for income tax assessment of Startups-Procedure, time limit, additions u/s 56(2)(viib), demand etc. Circular No. 22/2019 Central Board of Direct TaxesMinistry of Finance North Block, New Delhi, dated the 30th August 2019 Sub: Consolidated circular for assessment of Startups – reg. In order to provide …
CBDT constitutes Startup Cell for redressal of grievances & mitigation of tax-related issues of entities with respect to administration of Income-tax Act 1961 F.No. 187/6/ 2019-ITA-IGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes(ITA-I Division)***** New Delhi, dated the 30th August, 2019 ORDER Subject:- …
Procedure for Scrutiny assessment of Startup Companies on application of section 56(2)(viib). Clarification by CBDT Circular No. 16/2019 Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes North-Block, New Delhi, dated the 7th of August,2019 Subject:- Clarification with respect to assessment of Startup Companies …
Tax Incentives given to start-ups in Union Budget 2019-20. carried forward and set off of losses, relaxation of conditions of section 54GB Section 79 of the Income Tax Act provides conditions for carry forward and set off of losses in case of a company not being a company …
Startup Certification u/s 80-IAC & exemption u/s 56(2)(viib) of Income Tax Act- Govt. amends Startup Rules MINISTRY OF COMMERCE AND INDUSTRY(Department for Promotion of Industry and Internal Trade) NOTIFICATION New Delhi, the 19th February, 2019 G.S.R. 127(E).— This notification is being issued in supersession of the Gazette Notification …
Determination of fair market value of unquoted equity shares of ‘Start Up’ companies under section 56(2)(viib) of the Income-tax Act, 1961 read with Rule 11UA(2) of Income-tax Rules, 1962 -reg. CBDT vide instruction dated 06.02.2018 instructed that no coercive measures to recover the outstanding demand would be taken in …
