As many as 18 start-ups have received notices for the “angel tax” under Section 56(2)(viib) of the Income Tax Act, 1961. This section seeks to tax any capital raised by a closely-held company which is above its fair market value as income from other sources.
Angel investments are the earliest equity investments made in startup companies.
‘Huge gap’ in entities recognised and those receiving incentives
Bangalore-based Bigbasket delivers everyday cooking essentials like ghee (clarified butter), diced coconut and fragrant basmati rice, as well as 18,000 other items from bread to laundry detergent to eight million customers in 25 Indian cities.
PE and VC investors infused $843 million in the restaurant segment, including in categories such as quick service, casual dining and fine dining during the last five years.
Naspers has also invested into the parent company of Swiggy's rival foodpanda, Delivery Hero.
Investors looked at Mumbai more keenly than at Delhi, which saw a 3 per cent drop in fundings last year compared to 2016.
At 1,288, significant drop in number of new registrations; nearly 6 times as many came up in 2016
PM Narendra Modi launched Mitra at GES 2017: The robot uses facial recognition technology to identify people and can also recognise several languages.
The selected start-ups work in various fields related to energy such as converting waste plastics to petroleum fuels, solar stove, multipurpose fuel from agricultural waste biomass and leak detectors for liquefied natural gas (LNG) cylinders, among others.
Stayzilla counsel submitted that there were deficiencies in the works done by the vendor and accused Jigsaw of creating fake invoices to raise the bills.
Firms hiring apprentices just submit self-declaration with regards to Apprenticeship Rules for first year; DIPP has requested the ministry to raise it to 5 years
Centre made it mandatory for its ministries, CPSUs to procure minimum 20% of their products & services from micro and small enterprises from April 1, 2015
"Currently, more than 600 startups are in the field of lending, payments, insurance and trading and the current financial technology software services market stands at USD 8 billion and this is expected to grow to about USD 14 billion by 2020," Amitabh Kant said.
The firm employs some 200 staff and recently opened offices in San Francisco.
Startups covered under SIPP will not be required to obtain certificate of an eligible business from the Inter-Ministerial Board of Certification
Airbnb on Sunday launched Trips in Delhi to help users experience unique features about destinations across the country.
Flipkart has raised $1 billion at a valuation of $10 billion and plans fundraising for a similar amount in the coming months, Bloomberg reported quoting sources privy to the developments.
Vasupal, however, rubbished the cheating allegations against him and shared his ordeal in a blog titled "Help! I need everybody".
Paytm-Reliance Capital deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.