The government’s much-lauded decision to repeal the controversial ‘angel tax’ will not benefit several startups because of the riders attached in the new regulation, industry leaders said. ‘Angel tax’, or tax on investments in startups, was considered regressive by a…
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New startups that meet government norms escape tax
New business entities, which meet the government-prescribed definition of ‘startups’, will no longer have to suffer the burden of ‘angel tax’. This will enable them to obtain investments from unregistered venture capital funds or high net worth individuals, without having …
Egypt seeks India’s help to learn the ropes of SME financing
In an attempt to bring financial sectors of two countries closer to the other Egypt’s Small and Medium Enterprises (SME) in the Egyptian Banking Institute (EBI) organised a visit of their experts to India this May to learn about experience in financing SMEs. The visit to India was in collab…
CII launches SME finance facilitation centre in Uttar Pradesh
CII (Confederation of Indian Industry) has launched the SME finance facilitation centre in Uttar Pradesh. The Micro, Small and Medium Enterprise (SME) sector is of critical importance in reviving growth. While the government has taken several measures to promote MSMEs, access to credit remains a …
Indian Industries Association sets up development centre for MSMEs in Lucknow
Indian Industries Association (IIA) has set up an IIA MSME Development Center (IMDC) at its head-office in Vibhuti Kand, Gomtinagar in Lucknow. Vikram Singh (Ex DGP UP) and a Pro- Chancellor, Noida International University who is a renowned speaker and trainer on man management team building, cri…
HDFC bank launches SME e-bank
HDFC Bank, the country’s second largest private sector lender, has launched a digital bank for its Small and Medium Enterprises (SME) customers. It aims to grow its market share in the hinterlands with this. “It takes away the hassle of physical availability of a relationship manager and makes ba…
Zopper looks to double GMV to $200 million this fiscal
Hyperlocal model may not have turned out to be viable for grocery players such as PepperTap, Localbanya, Ola Store and Flipkart’s Nearby, leading all of them to shut shop, but Neeraj Jain, Co-Founder of Zopper, hyperlocal for home appliances, expects to double its GMV (Gross Merchandise Value) to…
Government to make changes in income tax act to promote startups
The government has removed the so-called ‘angel tax’ for investors providing funding to startups under its ambitious plan to boost entrepreneurship and job creation in the country. Funding to startups, notified under the government-approved plan announced by PM Narendra Modi in Januar…
33 SMEs line-up IPO plans
As many as 33 small and medium enterprises are planning to line up initial public offers (IPOs) to fund business expansion and meet working capital requirements. These companies, which are planning to list on BSE’s SME platform, are expected to float IPOs in the coming months. The exchange …
Government to launch Korea Plus on June 18
The Government of India will launch Korea Plus tomorrow, a dedicated mechanism for hand holding Korean investors and facilitating South Korean investment and operations in India, said Nirmala Sitharaman, Minister of State for Commerce & Industry, Government of India, here today at the ‘Korea-…