Startups, pharma companies face tax liability on new goodwill rules
The CBDT notification had said that in cases where goodwill was the only asset in the block, there won't be any tax impact, but in others, where the value of net goodwill removed from the block is in excess of the opening WDV as on April 1, 2020, such excess will now be offered to tax as STCG.
Indian firms have witnessed a record number of M&A deals and emergence of Indian unicorns with intangibles fetching substantial value in these transactions. Source: IANS