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Ghost of *"angel tax* on start ups:
Exemptions if
1. Total funding not to exceed Rs. 10 cr;
2. Required valuation certificate & inter-ministerial approval;
3. Minimum net worth Rs. 2 cr & average returned income of Rs. 25 lakh in proceeding 3 FYs

*Relief granted:*
1. No permission from inter-ministerial approval;
2. Rs. 50 lakh ITR of angel investor for the year proceeding investment year.
3. No valuation certificate from merchant banker but justification for the valuation of shares along with supporting documents.
4. No relief for those already get notice for IT assessment expect demand will not be pressed till
first stage of appeal

*Do you think, it will help promoting start ups??*

Warm regards
CA Sanjay Kumar Agarwal
M: 9810116321
“Nahi sirf jashn manana,
Nahi sirf jhande lehrana,
Yeh kaafi nahi hai watanparasti,
Yadon ko nahi bhulana,
Jo qurbaan hue,
Unke lafzon ko aage badhana"

Happy Republic Day

CA Sanjay Kumar Agrawal
#interimbudget #unionbudget2019

Though interim not full budget but important from the prospect of job creation, fiscal deficit discipline, make in India, FDI and schemes on social welfare.

Hope the FM will take appropriate steps to address all these important issues.
Revised FDI norms on E-commerce is effective from today accordingly these E-commerce market place are denied to sell products from sellers in which they have an equity interest or exclusive right to sell their products.

This will definitely impact the business of these marketplaces. Let us see how they will cope up with these new guidelines.

#fdi #E-commerce #dipp