Tax under section 56 for startups
My husband’s startup is faced with 2 notices for 16-17 and 17-18 and we need to figure out if Govt will help here or we on our own. more
That said, depending on the contents of the Notice, there are clearly one document, and its date and signatory which are important - if all three (document / date / signatory) meet required parameters, the IT does NOT have authority to question the content of the document.
If any of the 3 parameters are invalid, the document is irrelevant and the IT can and will tax the premium as income. more
Why this hue and cry when rules are clear that any HNI or Sebi Approved VCs are exempted from this rules?
Why did startups or CAs ignore the fact that the VC is not on Sebi list?
DIPP made a process of making a list of genuine startups who are also exempt. HNIs with a good track record are exempt.
Question needs to be asked is why VCs are scared of SEBI?? more