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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Government takes various measures to raise India’s ranking in ‘Ease of Doing Business’ to top 50 in the world

Government of India in its efforts to improve the business climate of the country and also improve country’s ranking in the World Bank’s report on Ease of Doing Business; recently held a meeting under the chairmanship of the Union Finance Minister Shri. Arun Jaitley. Secretary, DIPP informed that Nodal Departments have been identified for each indicator who will lead the reform process ensuring country’s improvement in ranking across the 10…

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