ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Small Business News

Relief for startups? Government may waive-off angel tax on MSMEs

In a recent meet of Department for Promotion of Industry and Internal Trade (DPIIT ), the Central Board of Direct Taxes (CBDT) and various other industry bodies such as NASSCOM, waiving-off angel tax was discussed.

  • Twitter
  • Facebook
  • GPlus
Relief for startups? Government may waive-off angel tax on MSMEs
The Angel Tax is an anachronistic framework of thinking that neither helps in making our country any easier to do business. Photo: Pixabay
By Asit Manohar
Updated: Thu, Feb 14, 2019
02:15 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar
Jaitley vows to strength venture capital funds, angel investors Jaitley vows to strength venture capital funds, angel investors
Future will be about 'made on the internet': Jack Ma Future will be about 'made on the internet': Jack Ma
WhatsApp launches 'WhatsApp Business' to target small business WhatsApp launches 'WhatsApp Business' to target small business
This startup can convert diesel smoke into printer ink This startup can convert diesel smoke into printer ink

Considering the current round of discussions between the Department for Promotion of Industry and Internal Trade (DPIIT), the Central Board of Direct Taxes (CBDT) and various other industry bodies such as NASSCOM, there seems to be some conscious being built upon waiving the angel tax currently levied on the Micro, Small and Medium Size Entreprises (MSMEs). The MSMEs have welcomed this move citing it would help MSMEs to get a level playing field in the pensive competitive business environment.

Speaking on the problems of angle tax Sharan Grandigae, Founder & CEO at Redd Experience Design told Zee Business Online, "The Angel Tax is an anachronistic framework of thinking that neither helps in making our country any easier to do business nor does it foster an environment of innovation. Through these measures, we are penalising the non-culpable majority in order to keep the minority of wrongdoers in check. When we have laws that hold organisations responsible for malpractice, what’s the additional need for registrations and licenses and taxes? A fundamental shift in our permission-led thinking is required today if we are to grow larger as an economy. Start-ups already face enormous odds with 90 per cent of them failing in the first year. But the ones that succeed can potentially benefit society and also generate great sources of revenue, not to mention jobs. We’ve got to make it easier on them.”

See Zee Business video below:

Awaiting the impending decision by the government, Rajiv Talreja, Serial Entrepreneur, Business Coach and International Author states told Zee Business Online in a written statement, "Considering the current round of discussions between the Department for Promotion of Industry and Internal Trade (DPIIT), the Central Board of Direct Taxes (CBDT) and various other industry bodies such as NASSCOM, there seems to be some conscious being built on working out a slab system for the start-up ecosystem. If the Government is able to raise the tax exemption on funding received up to Rs 25 Crore, and startups are able to meet regulations of registrations, GST filing and their ITR filings, then this can turn out to be a game changer, as the Government can set slabs based on the startup size and industry they belong to."

In fact, almost till half a decade ago, start up's and Micro-business owners had to heavily rely on family support, but with the government regulating these policies by taking mutual conscious decisions adds more josh to their various programs such as startup India and digital India. Most importantly, if the angel tax gets exempted it will create a win - win - win situation for the startup ecosystem (as they will be realized as a company of value and not small time family dependent businesses), the investing fraternity (Loans & Equity Investments), and the Govt (Central and IT).

TAGS:
Small BusinessStartups
RELATED NEWS
Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar Contactless banking to be the new paradigm: Fin Services Secretary Rajiv Kumar
Jaitley vows to strength venture capital funds, angel investors Jaitley vows to strength venture capital funds, angel investors
Future will be about 'made on the internet': Jack Ma Future will be about 'made on the internet': Jack Ma
WhatsApp launches 'WhatsApp Business' to target small business WhatsApp launches 'WhatsApp Business' to target small business
This startup can convert diesel smoke into printer ink This startup can convert diesel smoke into printer ink

LATEST NEWS

Airbus pencils in orders for new A321XLR jet: sources

Indian Railways Bullet Train: You can win Rs 1,00,000 by just doing this for the fastest train in India

PACL Refund Claim Online: Pearls investors must not do this - May not get any money

Mutual Funds Sahi Hai but don't invest in more than 3 funds - Here's why; check logic with examples

Want a home loan? This is what SBI offers you under PMAY 'Housing for All' scheme

BPSC Recruitment 2019: Exam date alert for Bihar Public Service Commission aspirants

Modi govt Mudra Scheme: Get Rs 4 lakh loan to start this business

Ford probing possible problems with fuel economy, emissions tests

Warning! ICICI Bank account holder? Avoid this to have secure online banking

Digital shopping app JOOM targets France in challenge to Amazon

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved