Angel tax demon still alive past budget
Arun Jaitley skirted the issue of angel tax by merely stating that the government will take measures to resolve the issue and make angel investment in India easier, he provided a consolation prize on the taxation front for startups.
Clarity key for startups. Why is that so hard to understand? more
Clarity key for startups. Why is that so hard to understand? more
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There are incidents where the Share value so set at a multiple Premium were found to have been dressed with Black Money BUT, turned legally with Quid ProQuo Arrangement . There are Some Industries where the Premium Purchaser/investor also had vested interest in the purchase of Raw-material/Components manufactured by their Sister Concerns/Ancillary Units at high rated prices setting additional Profits for them. Further, A new large Scale Unit's Share of Rs.100/- each was dressed with Rs.360/- even before Starting Business and the case is in Court under Quid Proquo nexus , Misuse, Mis-allocation through vested influences . There are other such industries also WHERE THE REAL SHARE HOLDERS i.e., the General innocent Public who have invested at National and Self interest, been set with diluted minimum Profits and even dressed with Losses and is the Fact. Angel Tax of 30% proposed will make the Responsible Governments identify and locate such individuals for a future Assessment and is legally also right. more
Feb 01
Mr. SHAKTHI Dharan, but who will bell the cat on either side?. In earlier times justabout 30 years back the GOVT SECT.PSU AND OTHER SO CALEDSTARTUP PROJECTS THOSE DAYS USD TO DRAW FAKE TAX BENEFIRT IF THEIR NEW PLANTS ARE COMMISIONED ON OR BEFORE 31ST MARCH. SO THESE companies used to show thatthe plant is commissioned nad has produce end product and claim that tax erebate, thereafter it sruckt o some intelligent finance min and som offical and they totally abolished such conditions and enfoorced new conditions stating- THE TERMSWERE REVISED AS THOS WHO PRODUCE SYUSTAINABLE COMMERCIAL PRODUCTION CAN ONLY CLIAM SUCH BENEFITS. Hope my friends will understand the importance of ANGEL TAX. ONLY THE SAM ESCHEME QWHICH INTRODUCED NOW WAS ALRRADY EXISTING IN HENME OF NEWENTERPRENURE SCHEME AND NOT IT HAS COME AS WITH NEW VERSION IN THE NAME OF START UP INDIA. I my opinion in the name of starttup india or make in INDIA those industries or projects whould be given more importance who makes IMPORT SUBSTITUTE PRODUCTS OR WORK ON INDEGINOUE TEDEVEOPED TECHNOLOGY, WHICH CAN HEP THE NATIN , REDUCING FOREIGN DEPENDANCY AND CAN ALSO DEVELOP MORE ANCILLIARY INDUSTRIES, FOR THE OIL REFINERIES, PETROCHEMICALS PLANTS AND ALO CAN PROVIDE NEWER AVENUES FOR GRADUATE LEVEL AND AT WORKER LEVEL EMPLOYMENT. WE DON'TNEED ACADEMIC RESEARCHWE NEED APPLIED RESEARCH AND NOT INTERESTED IN KNWING HOW MNAY SUDY OR RESARCH PAPERS ARE PUBLISHED WHEN ONE RUPEE WILL BE EQUAL TO 64 DOLLARS WE CAN AFFORD TO WORK ON ACEDAMIC RESEARCH. WE MUST IDENTIFY THE NATION NEEDS FIRST LIKE WISE DURING INDEPENDANCE /FREEDOM FIGHTING THE TOP PRIORITY WAS TO GET FREEDOM/INDEPENDANCE. more
Feb 01
good information, in my opinion these speculative trade business of stck excange should be totally banned .Millions of families can be saved from this adddictions. The SENSEX AND ANY SUCH INDEXES HAVE NOTHING TO DO WWITH ANY COMPANIES INTRODUCTION OR WORKING. IT IS MERELY JUST SPECULATIONS AND STOCK EXCHANGE TRADERS THEY CAN LIFT THE PRICE OR DOWN IT WITHOUT ANY REASON AND THEY SIMPLY ARE USTAD TAAN TOD OR TAAN JOD. more
Feb 02
No need to waive the Angel tax. The start up companies if want to do business with public money issuing equity shares at premium, who knows whether their business will be completed n will make profit from the very year of their operation . So they can jolly well use public money n enjoy, some day the investor cannot even find that business house or factories at their registered work place. In past many such companies have vanished taking awAy public money.so it is right to charge such tax. But only change should be necessary in consultation with SEBI that in the event of any such defaulters the investors must get back their money from that tax collected by govt. more
Feb 01
