Startups

Startups’ registration at GeM more than doubled to 7,438 in last one year: Official

November 16, 2020 4:34:18 pm

The Government e-Marketplace (GeM) was launched in August 2016 for online purchase of goods and services by all the central government ministries and departments.

Swiggy announces employee stock liquidity programme

November 9, 2020 6:12:50 pm

Under the programme, employees will be able to sell their shares to investors in the company.

FreshToHome raises $121 million in funding from Investment Corporation of Dubai, others

October 28, 2020 11:39:26 am

FreshToHome claims to be the world's largest fully integrated online brand in fresh fish and meat e-commerce, with approximately 1.5 million B2C orders per month and USD 85 million (about Rs 600 crore) annualised sales run rate on the platform.

43% MSMEs and startups plan on hiring women over next 6 months: Survey

October 20, 2020 7:14:33 pm

As per a survey conducted by community engagement platform LocalCircles, which got over 7,000 responses from startups, MSMEs and entrepreneurs across 104 top business districts in India, 31 per cent of such firms across the country have reduced their women workforce in the last 8 months.

Maruti Suzuki shortlists five new startups under its MAIL programme

September 29, 2020 12:24:11 pm

Maruti Suzuki India's MAIL initiative supports startups by co-creating innovative business solutions. It was launched with an aim to nurture innovation in the automobile and mobility sector in partnership with GHV Accelerator in January 2019.

‘Indian startups should cut reliance on foreign funding sources like US and China’

September 16, 2020 10:01:58 am

The House panel, which tabled its report on “Financing the Startup Ecosystem” in Parliament on Tuesday, also recommended the Centre to abolish the long-term capital gains tax for all investments in startups made through angel funds, alternate investment funds and investment LLPs.

At Rs 1 for 1GB, Bengaluru startup aims to provide affordable internet

January 23, 2020 5:13:04 am

The cost of access to broadband is still high for most Indians, largely due to the third-party hardware, software and networking infrastructure.

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Interview: ‘Trying to get non-resident HNIs to invest directly in startups based out of Kerala’

September 29, 2019 12:30:11 am

Kerala’s Secretary to Chief Minister and Secretary to the Department of Electronics & IT, M Sivasankaran said that the state government set up a fund of funds to provide better financing options to home-grown startups.

Zomato extends Gold programme on dining out to deliveries now

September 21, 2019 7:04:02 am

Zomato has also announced changes to Gold rules on dining out by limiting Gold use by a single user to one per day and allowing a maximum of two Gold unlocks per table.

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Weak tax collection data, cloudy US Fed outlook pull Sensex down 470 points

September 20, 2019 2:17:14 am

The Centre’s direct tax mobilisation showed just 4.7 per cent growth till September 17, compared to a target of 17.5 per cent budgeted for the full year.

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‘With over 7,000 startups, Delhi NCR ahead of Bengaluru, Mumbai’

September 11, 2019 3:55:24 am

According to the ‘Turbocharging Delhi NCR startup Ecosystem’ report, Delhi NCR accounted for a 23 per cent share of startups in the country.

Hyderabad: Drunk group of men assault Swiggy delivery man, probe underway

‘Swiggy Go’: New pick up and drop service launched in Bengaluru

September 4, 2019 1:24:42 pm

Swiggy Go is an instant pick up and drop service to send packages anywhere in the city. Like Swiggy Stores, Swiggy Go will be part of the app, the company said in a statement.

Tax holiday only for startups with turnover up to Rs 25 crore: CBDT

August 23, 2019 3:54:49 am

As specified in Section 80-IAC of the Income Tax Act, 1961, these startups will receive deduction for “100 per cent of income” for three out of seven years from the year of its incorporation, the Board said in a statement.

Government booster dose for startups: No tax on funds raised last 7 years

Relief for startups: CBDT lays down procedure for pending angel tax cases

August 9, 2019 4:50:16 am

In a clarification, CBDT has laid out procedures that prevent assessing officers (AOs) from scrutinising angel capital raised by startups recognised by the DPIIT.

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Angel tax breather: Startups, investors divided over clarity

July 9, 2019 4:42:30 am

Nirmala Sitharaman had said that startups and their investors filing requisite declarations and providing information in their returns will not be subjected to any kind of income tax scrutiny over the valuations of their share premiums.

Startup India: In 34 months, only 94 of 15,798 govt recognised ventures got tax exemptions

February 21, 2019 12:11:46 pm

According to the latest available data, as of mid-January 2019, 4,648 complete applications were received for exemption under Section 80IAC of the Income Tax Act.

Government booster dose for startups: No tax on funds raised last 7 years

February 20, 2019 6:54:23 am

The Commerce and Industry Ministry issued a notification to simplify the process for startups to receive tax exemptions under an anti-evasion provision of the Act.

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Commerce Ministry relaxes Angel Tax norms for startups

February 19, 2019 3:34:55 pm

The move, which is to ensure availability of funds for startups, follows concerns regarding the taxation of angel investments in this sector. The Central Board of Direct Taxes will notify the changes separately.

New platform for startups in Chandigarh soon, proposal ready

February 4, 2019 8:55:36 am

The first-of-its-kind platform in North India aims to develop Chandigarh as a knowledge hub, and will provide a fertile ground for research and its implementation.

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Startups: Govt eases process to seek tax exemption on angel fund investments

January 17, 2019 1:24:23 am

Notably, entities requesting tax exemptions still need to provide a justification for valuation of shares “along with supporting documents”.

Gujarat best in providing ecosystem for startups: DIPP ranking

December 21, 2018 3:57:05 am

In the ranking process, states have been identified as leaders across categories — startup policy, incubation hubs, seeding innovation, scaling innovation, regulatory change champions, procurement leaders, and communication champions.

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DIPP to set up panel to look into tax issues faced by startups

December 21, 2018 3:50:17 am

CBDT has asked its field officials to refrain from coercive steps to recover the demands of completed assessment under I-T from startups.

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Tax notices to startups: Have taken up the issue, says Suresh Prabhu

December 20, 2018 2:46:37 am

A top income tax department official said the “notices issued on angel tax to startups may be for those that are not recognised by the department of industrial policy and promotion (DIPP)”.

Indian start-ups go global for growth as smaller cities take time to pick up

September 26, 2018 2:28:21 am

Push from a marquee investor like SoftBank to grab opportunity across the borders comes at a time when growth in India is said to be slowing down in particular categories as the firms go deeper into the geography.

Google CEO Says Nationwide Virus Info Site to Launch Monday

Free cross-border data flow to help start-ups, says Google CEO Sundar Pichai

September 10, 2018 1:06:05 am

The government can notify certain categories of personal data as critical personal data that would have to be stored in a data centre located within India.