Tax Holiday for Startups extended to startups with turnover upto INR 25 crore

In a clarification issued by the Central Board of Direct taxes, a tax holiday has been extended to only those startups with a turnover of INR 25 crore.? What has happened? Startups in India have the potential to provide a ..

Easing norms for Start-ups in India

To promote the startup culture in India, the Finance Ministry has made provisions for improving the start-up ecosystem by easing some financial norms.? What has happened? The Finance Ministry has simplified the entire process of assessment for the start-up entities ..

Update : Erroneous reports about the Filing of Income tax Return

There were several reports in the social media that a few taxpayers were facing issues in filing the returns. What had happened? Unverified reports in the social media claimed that the large scale changes were made in the Income-tax Return ..

Preliminary Report of Standing Committee on Finance

The Preliminary Report of the Standing Committee on Finance was tabled in the Parliament. The report titled Status of Unaccounted Income/Wealth Both Inside and Outside the Country A Critical Analysis makes the following observations: The committee s report was based ..

Terror Monitoring Group for Jammu and Kashmir

The Union Home Ministry has announced setting up of a Terror Monitoring Group (TMG) to ensure synergised and concerted action against terror financing and terror-related activities in Jammu and Kashmir. Mandate of the Terror Monitoring Group Taking action against hardcore ..

Month: Current Affairs - April, 2019

Govt relaxes norms for Start-ups

The government has relaxed the norms under the definition of Start-Ups. The changes brought in are: The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore. ..

Month: Current Affairs - February, 2019