Start-ups get limited relief from angel tax

According to Thursday’s notification, the investor, who proposes to subscribe to shares issued by a start-up, must have an average returned income of Rs 25 lakh or more for the preceding three financial years or the net worth of Rs 2 crore and above as on the last date of the preceding fiscal.

Incentivising employment generation through Tax Incentive

Section 80JJAA captures one of the deductions under the Income-tax Act, 1961 (‘the Act’) which is provided to incentivise industries to generate additional employment. This article lays down the background of the section; the conditions required to be satisfied to avail the deduction; the...

India wants to use an “exit tax” to stop its millionaires from fleeing

There is an exodus of millionaires from India, and the government suspects the rich are trying to escape scrutiny and tax liability.

Delay in transition to Ind-AS: not such a bad idea for banks

Deferment of the new accounting standards for banks to April 1, 2019 has its pros and cons. In the meantime, it offers banks additional time to up their game.

Economists not in sync with MPC inflation, GDP projections

Economists trying to decipher the Monetary Policy Committee's (MPC) outlook for inflation and GDP growth for the current fiscal said providing authoritative projections on these statistics was difficult due to lack of clarity on many factors influencing them.

Ind-AS for NBFCs from Apr 1: confusion reigns

Banks get a year’s reprieve from implementation of new accounting standards whereas RBI’s silence on the road ahead for NBFCs creates confusion.

BDO in India celebrates 5th anniversary

BDO in India is celebrating its 5th anniversary. Over the past 5 years the firm has grown to employ 1,700 people across 9 locations with 12 offices and is still expanding.

Corporate Communications

Financial creditors need to come clean on ‘related party’

He highlighted that the IBC disallows a financial creditor from exercising voting rights in the CoC, if such a creditor qualifies to be a related party to the corporate debtor.