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Lady with Rs 3.4 lakh annual income gets a Rs 33 lakh property via gift deed; tax dept sends notice; she wins in ITAT DelhiThe Income Tax Appellate Tribunal (ITAT) Delhi ruled that property received through a Hindu family settlement is not a taxable gift. The tr...- Stamp duty vs deal value: Homebuyer gets relief as ITAT Mumbai rejects addition of Rs 18 lakh income by tax dept for property valuation gapA Mumbai homeowner has won a significant tax case. The Income Tax Appellate Tribunal ruled in his favour, deleting an Rs 18.95 lakh income ...
- Delhi HC stays Rs 1,140 crore tax demand against OyoThe demand was raised under Section 56(2)(viib) of the Income Tax Act on account of the addition to the income after the assessee had issue...
- No LTCG tax on Rs 1.32 crore house bought only at Rs 45 lakh: Homebuyer wins LTCG tax exemption case at Delhi ITAT after 7 years fightA homebuyer faced legal and tax challenges after buying a Delhi property, including a dispute over the sale agreement and issues with incom...
- Angel Tax: No assessment of startups registered with DPIITThis means startups registered by the DPIIT Start-ups will not face tax verification on account of angel taxation in case they are picked u...
- Exclusive: Government may adopt Fema-like valuation norms for angel taxThe Reserve Bank of India (RBI) administered Foreign Exchange Management Act (FEMA) accepts valuation by a Sebi-registered Category 1 merch...
- Startups, VCs seek exemption from angel tax provisions for certain fundsThe government in the Finance Bill this year has omitted the term ‘resident’ while referring to investors under the Section 56(2)(viib) of ...
- Exclusive: Valuation rules to be scanned for Angel Tax on foreign InvestmentsA senior official said the government is examining the different valuation criteria prescribed under two separate laws which could lead to ...
- Taxmen Fish for information on investors in angel fundsAngel funds have to comply with easier rules compared to other types of alternative investment funds (AIFs) like private equity and venture...
- No tax demand from startups sans appellate tribunal nod: CBDTCBDT has issued a consolidated circular reiterating clarifications issued so far on taxation issues hurting startups, including the so-call...
- This Budget, the Government needs to abolish angel tax for startups: IAN's Saurabh SrivastavaNotably, the tax was introduced to prevent and detect money laundering practices and also catch bogus startups.
- 342 startups get angel tax exemption since February"A total of 381 startups gave undertaking that they should be exempted from angel tax and out of that, 342 have received intimation from CB...
- Accreditation regime for investors backing startups put on fast trackThe accredited investor regime could provide cover for trusts, individuals and family members of a startup, as also unlisted companies that...
- DPIIT working on definition of Accredited Investors for Angel Tax exemptionThe accredited investors may get exemption from angel tax under Section 56(2)(viib) of Income Tax Act, 1961, beyond the Rs 25 crore limit.
- CBDT gives 90 startups immunity from Angel TaxThe CBDT has given some 90 startups an assurance and registered them for Startup India Action Plan.
- Startup fund to get Rs 3,000 crore financing boostRs 16,680-crore funding commitments secured from long-term partners likely to accelerate fund deployment.
- DPIIT working out scheme enabling accredited investors to fund startups without any hitchDPIIT keen on regime where investors will be able to fund startups without caps.
- No angel tax relief for startups who were slapped notices: IVCAIVCA wants that all startups should have a blanket exemption from income tax section that triggered angel tax. It suggested that this shoul...
- Angel tax eased: Prabhu clears proposal to enhance startup definition, turnoverThe Department for Promotion of Industry and Internal Trade (DPIIT) would issue the notification.
- Incentivise, not tax, angel investors: Amitabh KantMany angel investors have been served notice by income tax department, demanding tax on investments.
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