Tax On Startups : Not in the Spirit of Law

When the Hon’ble Prime Minister announced the Startup India campaign in 2015, one would have not realised that the seeds of the tax disputes on equity infusion in startups were sown back in the Finance Act of 2012. Bundled under the measures to prevent generation and circulation of unaccounted money, a Special Anti-Avoidance Rule (SAAR) in section 56(2)(viib) was born. Section 56(2)(viib) applies in the cases of closely held companies…

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Start and Get Up – Startups

When we dream about an idea then it’s a time to start up and living that dream. The Government has launched its flagship program ‘Startup India” in January 2016 an initiative which intends to fulfil millions such dreams of young entrepreneurs. It aimed at promoting entrepreneurship by nurturing, mentoring and facilitating young entrepreneurs. Today people have multiple innovative ideas but same needs to complimented with right infrastructure, business plans and…

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