STARTUPS NEWS - Page 4

The company had sold 1,53,435 units in October last year, Maruti Suzuki India (MSI) said in a statement. (Photographer: Prashanth Vishwanathan/Bloomberg)

Maruti Suzuki shortlists five new startups under its MAIL programme

September 29, 2020 12:24 IST

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.

“... At a minimum, this should be done for at least the next 2 years to encourage investments during the pandemic period. After this 2 year period, the Securities Transaction Tax (STT) may be applied to CIVs so that revenue neutrality is maintained,” the panel noted in its report. (File)

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

September 16, 2020 10:01 IST

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 internetSubscriber Only

January 23, 2020 05:13 IST

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’Subscriber Only

September 29, 2019 00:30 IST

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 07:04 IST

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 02:17 IST

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 03:55 IST

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 13:24 IST

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 03:54 IST

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 04:50 IST

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 claritySubscriber Only

July 9, 2019 04:42 IST

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 exemptionsSubscriber Only

February 21, 2019 12:11 IST

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 yearsSubscriber Only

February 20, 2019 06:54 IST

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 startupsSubscriber Only

February 19, 2019 15:34 IST

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 readySubscriber Only

February 4, 2019 08:55 IST

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 01:24 IST

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 03:57 IST

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 03:50 IST

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 02:46 IST

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 upSubscriber Only

September 26, 2018 02:28 IST

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 01:06 IST

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.

Indian start-ups make a beeline for foreign shoresSubscriber Only

August 8, 2018 03:00 IST

Experts have pointed out that startups that are leading the ranks in their respective segments within India will begin to explore foreign markets that have consumers with more room for spending.

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Startups get limited relief from ‘angel tax’

April 13, 2018 02:53 IST

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.