LocalCircles Impact - Relaxation on Angel Tax
We are pleased to share that the Department of Revenue under Ministry of Finance has issued attached notification giving relaxation on Angel Tax.
The Department of Revenue notification instructed assessing officers not to take any “coercive measure to recover the outstanding demand” of startups that have raised angel investments at high valuations, provided these companies are identified by the DIPP as startups. more
The Department of Revenue notification instructed assessing officers not to take any “coercive measure to recover the outstanding demand” of startups that have raised angel investments at high valuations, provided these companies are identified by the DIPP as startups. more
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A logical exception to Angel Tax is extended with conditions attached. I am afraid it will really help the reasonable and sensible start up companies. more
Feb 07
The instructions presently passed to the assessing officers is only to avoid coercive action, but does not advise action. This leaves lot of scope of corruption if the assessing officer agrees to accept the appeals by the start-up companies. It has been a standard of sorts for the officials who draft the laws to use complex sentences and phrases (which helps certain section of the society to earn their living) that could be interpreted in multiple ways. Steps have to be taken that the laws are framed and written in the most simple and straight forward manner which can be easily understood by the common man. Every time a modification is adopted a comprehensive modified law has to be published in cancellation of all earlier laws related to the same. This will ensure that one need not refer to multiple law documents and get confounded as to what is to be made out of it. more
Feb 07
good but sir, why all the ti any such regulations enforced by govt is always attach with so many stings? why there is always - provided, ifs and buts- why can't this british english types rules are drafted and then keep on acting at their own descretion from time to time either keep on adding new stings again referring the old regulations.In parliament also many times when some members gives ef. of some lause of CONSTITUTION, HE/SHE HAS TO TO REFERRED THE OLD SECTIONS ND HAS TO COMBIN E BOTH AND DO THE INTERPRTATIONS. I am in favour of any such ngle tax. in past to revive the TEXTILE INDUSTRY THOSE DYAYS GOVT CONSTITUTED NATINAL TEXTILE CORPORATIONS ND STATES ALSO CONSTITUTED STATE TEXTIE CORPORATION , THESE CORPORATIONS GAVE LOT OF FINANCIAL SUPPORT TO THOSE SICK UNITS , EVE TO THOSE WHO WNATED TO BUY ANDF OPERATE SUCH SICK UNITS. THEY GOT EASY LOANS FROM BOTH THE NTC AND STC AND LATER ONEW AGAIN DELCRAED THOSE UNITS AS SICK UITS AND DO AWAY WITH THE OUT STANDING DUES TO THOSE CORPORATIONS, HAD SUCH TAX BEEN THERE GOV/PUBLIC MONEY WOULD NOT HAVE BEEN DUPED. I AM ONC E AGAIN DRWAING ATTENTIONS ODF ALL THOSE EXPERTS WHO DRAFT THE LAWAND ANY REGULTIONS MUS BE WRITTEN IN SUIMPLE ENGLISH AND NO ABBREVIATIONS AND ATTACHING ANY STINGS TO IT. JAI HIND more
Feb 07
