Tax Exemption

Startups seek scrapping of contentious angel tax proposal; govt may increase investment limit for exemption

Various startups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.

Affordable housing: Why are builders enjoying 100% income tax holiday and not passing on benefits to home-buyers?

Budget 2019 has given one more year to builders to seek approval from competent authority for their housing projects

Converting your rent into EMI has greater resonance now that two self-occupied houses are tax-free

One may be petrified by the prospect of interest outstripping the principal but then there is something called time value of money—you get to enjoy a house now which you cannot afford now.

I-T Department to soon decide on startups to be exempted from angel tax; multilayer checking system in place to find eligible firms

Last month, the government eased the procedure for seeking income tax exemption by startups on investments from angel funds and prescribed a 45-day deadline for a decision on such applications.

Govt to form working group to resolve angel tax issue of startups; I-T officers instructed not to enforce recovery

Ranjan said income tax officers have already been instructed not to enforce recovery of angel tax and dispose of their appeals on priority.

Govt eases process for startups to seek tax exemption on angel fund investments

The government has eased the procedure for startups to seek income tax exemption on investments from angel funds as part of efforts to address concerns of budding entrepreneurs

Angel tax concerns: Startups required to seek tax exemption from inter-ministerial board, says govt

Several startups have raised concerns on taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.

Gujarat emerges as best performer in developing startup ecosystem for rising entrepreneurs

A total of 27 states and three Union Territories participated in the ranking of developing best startup ecosystem for budding entrepreneurs.

I-T Department proposes online filing of tax exemption application from educational institutions, hospitals and charitable trusts

The Income Tax Department sought comments from stakeholders by 12 November on the amended rules and application forms seeking tax exemptions by such entities.

West Bengal to push for GST exemption up to Rs 50 lakh, says state's finance minister Amit Mitra

At present, the exemption limit for GST is for businesses having an annual turnover of Rs 20 lakh or less.