Connect with us

Business

CBDT: Small Startups With Turnover Up To Rs 25 Crore To Get Promised Tax Holiday

Published

on

Spread the love

The Central Board of Direct Taxes (CBDT), on 22 August, has clarified that small start-ups with turnover up to Rs 25 crore will continue to get the promised tax holiday as stated in Section 80-IAC of the Income Tax Act, 1961. This section was inserted vide Finance Act 2016, which provides deduction for 100 per cent of income of an eligible start-up for 3 years out of 7 years from the year of its incorporation.

Section 80-IAC specifies a detailed definition of the eligible start-up stated below:

A start-up which is engaged in the eligible business shall be eligible for deduction only if it satisfies all the following 3 conditions:

  1. A start-up is incorporated on or after 1st April 2016,
  2. The turnover of the start-up does not exceed Rs. 25 crore in the year of deduction, and
  3. It holds a certificate from the Inter-Ministerial Board of Certification.

The circular followed the announcement made by Nirmala Sitharaman, the Indian Finance Minister during the Union Budget 2019. She proposed a host of incentives with a view to promote, encourage and develop startups and given special attention or special arrangement for resolution of pending assessments of income tax cases.

Section 80-IAC has rolled down as an exception to the government’s stated policy for promoting and development of small start-up during their initial year of operation and phasing out a profit-linked deduction. The turnover limit of Rs 25 crore small start-up, is considered as reasonable for granting profit linking deduction according to CBDT.

From the above statement, it can be clearly stated that CBDT does not take into consideration of Rs 100-crore turnover definition of a small start-up which was defined by DPIIT.

CBDT has said in the statement that startup recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as to first fulfil the conditions specified under Section 80-IAC for claiming this deduction. It does not automatically become eligible for the deduction as the turnover limit for small startups (claiming the deduction) is to be determined by the provisions of Section 80-IAC of the I-T Act and not from the DPIIT notification.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

Top trading strategies for beginners

Published

on

Spread the love

Are you interested in investing? Many people are interested in investing, but they are not aware of the investment type they should select. Most investors in Hong Kong suggest ETFs because they believe it is one of the best options for naïve investors. When you are not aware of the market, you will struggle, but if you have selected ETF, you will not find it complicated. Of course, it will be confusing and a bit difficult initially, but for beginners, there will not be a better choice. You can enjoy a lot of benefits if you select this type of investment.

The abundant liquidity is one of the main reasons why you should select ETF as a beginner. But that’s not all; there are many other reasons such as low expense ratio, investment choices, low investment threshold, diversification, and the list will go on. We don’t sugarcoat things, so you should know that ETFs have disadvantages as well. However, many features make ETFs the perfect investing vehicle. As a beginner, you must know the top trading strategies, so let us help you.

Trade with a high-end broker

Before you start to develop your trading strategy, you must find a high-end broker like Saxo. Never think you can make a huge profit from this market by trading the market with the low-end broker. Once you find such a broker, it’s time to develop your trading strategy. Some of you might buy an expensive trading system from a pro trader but it will never help. You need to stick to your trading rules and trade the market with proper logic. Forget about aggression and trade the market in a conservative way. Take your time and within a short period, you will become successful at trading.

Dollar-Cost Averaging Strategy

This is the basic strategy that any beginner can try if they are trading Exchange traded funds.  The dollar-cost averaging technique is pretty simple, which is why beginners should start their journey with this. Instead of this, if you try to use any other complicated strategies, you might assume that trading is hard. Even though it is not the case, the strategy that you select has a huge impact on your trading journey. Hence, don’t take it lightly. This particular strategy is about purchasing a fixed-dollar amount of assets on a fixed schedule, even if the asset cost changes, this will continue. Normally, beginners are youngsters with a stable income source so you can set aside a certain amount and invest it in ETFs instead of looking for low-interest savings. It is important to look at the benefits and drawbacks when you are making a decision. If you do, you will be able to make the right decision.

Asset Allocation Strategy

This is another top strategy that you must try as a beginner. This is about diversification. You might have to allocate a particular portion of your portfolio to other categories such as bonds, commodities, bonds, stocks, and cash. It is pretty easy to understand the reason why you must consider this strategy. If you want to diversify your risks, this is the best method you can find. As per the asset allocation of the beginners, the rate of risk will also reduce.

The seasonal trending bet

A beginner’s best tool is the seasonal trending bet so they can capitalize on it. You must make sure to dig deeper into the information and seasonal trends so that you can understand more about it before betting on it.

There are many features and advantages of ETFs, so if beginners are trading, they can consider ETF as the best choice. There are many strategies for trading ETFs, but the ones we mentioned above are great for beginners. The main reason is the simplicity of the strategies. Hence, you must utilize these strategies in trading.

Continue Reading

Business

World richest Jeff Bezos will spend $10 billion to fight with climate change

Published

on

World richest Jeff Bezos will spend $10 billion to fight with climate change
Spread the love

Amazon founder Jeff Bezos said Monday that he “plans to spend $10 billion of his own fortune to help fight climate change”. Bezos, the world’s richest person, said in an Instagram post that “he’ll start giving grants this summer to scientists, activists and nonprofits working to protect Earth”. Bezos said in the post “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change,” .

Amazon, the company Bezos runs, has an enormous carbon footprint. Last year, Amazon officials said “the company would work to have 100% of its energy use come from solar panels and other renewable energy by 2030”.

The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world. Amazon workers in its Seattle headquarters have been vocal in criticizing some of the company’s practices, pushing it to do more to combat climate change.

Bezos said in the “post Monday that he will call his new initiative the Bezos Earth Fund. An Amazon spokesman confirmed that Bezos will be using his own money for the fund”.

Despite being among the richest people in the world, Bezos only recently became active in donating money to causes as other billionaires like Bill Gates and Warren Buffett have done. In 2018, Bezos started another fund, committing $2 billion of his own money to open preschools in low-income neighborhoods and give money to nonprofits that help homeless families.

Bezos founded Amazon 25 years ago, has a stake in the company that is worth more than $100 billion. In September, Bezos announced Amazon’s climate pledge to get the company carbon-neutral by 2040, 100% renewable energy by 2o30, and 100,000 electric delivery vehicles by 2030.

The move follows pressure from Amazon employees to push the company to do more to fight climate change. More than 350 employees signed a Medium blog in January calling for net-zero emissions by 2030, among other requests.

Continue Reading

Career

ISRO Recruitment 2020 – Apply online for 182 various vacancies

Published

on

ISRO Recruitment 2020
Spread the love

ISRO Recruitment 2020: Indian Space Research Organisation (ISRO) has announced recruitment to several posts at their official website isro.gov.in. 

In the recruitment notification, ISRO has called applications for 182 jobs such as Technical Assistant, Fireman, Scientific Assistant, Draughtsman B, Technician B, Hindi Typist, Library Assistant, Cook, Catering Attendant A, and other vacancies. Aspirants who hold needed criterion can apply for the jobs within the mentioned time frame.

We can say that here is the best opportunity for Government job applicants who have a golden chance. So grab this opportunity by applying for ISRO Recruitment. You can apply for ISRO Recruitment by following the prescribed format on or before 06 March 2020. 

Applicants with particular educational qualification can apply online for ISRO Recruitment through the official website. Candidates should have SSLC/SSC/Matriculation + ITI/NTC/NAC. Still, you must have extra qualifications as per the ISRO Recruitment 2020 Employment Notification.

Online application has been commenced from 15 February 2020. The final date to apply online for the recruitment is 06 March 2020. Along with that, the candidates should know that the closing date to pay the application fee is 07 March 2020.

ISRO Recruitment 2020 – Important Date

Last Submission of Online recruitment Application: 06 March 2020

Vacancies

  • Technician: 102 Posts
  • Technical Assistant: 41 Posts
  • Draughtsman: 03 Posts
  • Scientific Assistant: 07 Posts
  • Library Assistant: 04 Posts
  • Heavy Vehicle Driver: 04 Posts
  • Hindi-Typist: 02 Posts
  • Fireman: 04 Posts
  • Catering Attendant: 05 Posts
  • Cook: 05 Posts

Eligibility Criteria for Fireman, Driver, and other posts:

Educational Qualification:

Enthusiastic candidates applying for other posts through ISRO Recruitment 2020 should have qualified SSLC/SSC/Matriculation, ITI/NTC/NAC, Diploma in Mechanical/Electronics/Computer Science/Automobile/Instrumentation Electrical/Civil engineering disciplines; Graduate + Master’s Degree; M. Sc, B. Sc in relevant subjects from a approved University/Institution, and additionally hold a valid LMV/HMV license with appropriate years of driving practice as described in the notification.

How to Apply

Enthusiastic applicants can apply for ISRO U R Rao Satellite Centre (URSC) Recruitment via the designated format on or before 06 March 2020. Aspirants applying for multiple posts via ISRO Recruitment should register online on the official ISRO website at https://www.isro.gov.in/ from 15 February 2020 onwards and should submit their applications on or before 06 March 2020.

Continue Reading

Business

OYO net loss is USD 335 million in 2018-19

Published

on

Spread the love

Accommodation firm OYO Hotels & Homes on Monday reported widening of its net loss to USD 335 million (over Rs 2,390 crore) for the financial year ended March 2019, mainly on account of international expansion during the period. The company had reported a “net loss of USD 52 million (over Rs 370 crore) for the previous financial year”, OYO said in one of his statement “Its consolidated revenue for 2018-19 stood at USD 951 million (over Rs 6,785 crore) as against USD 211 million (over Rs 1,500 crore) in the year-ago fiscal”.

“The inherent costs of establishing new markets, including those related to talent, market-entry, operational expenses, among others, resulted in an increase in OYO’s net loss percentage in the near term, which grew from 25 per cent in 2017-18 to 35 per cent of revenue in 2018-19, to USD 335 million”.

“At the same time, in markets like India, the company reduced its losses from 24 % to 14% of revenue in 2018-19 to USD 83 million”. “The business operations in India, a mature market for the company, contributed nearly 63.5 per cent or USD 604 million to the total revenue as the business clocked a 2.9 times growth y-o-y in the home market” OYO said Further in their statement.

It added “Nearly 36.5 percent or USD 348 million was contributed by the company’s operations outside India, primarily China, signifying its strong commitment towards building a sustainable global business at scale with improved operating efficiencies”. OYO Hotels & Homes Global CFO Abhishek Gupta said “As we work towards consistently improving our financial performance, ensuring strong yet sustainable growth, high operational and service excellence and a clear path to profitability will be key to our approach in 2020 and beyond,”

Rohit Kapoor, chief executive officer for India and South Asia said “Its gross margin rise to 14.7% from 10.6%, the company said. Oyo has cut back in certain markets, firing about 20% of its 12,000 people in India for example. “We have pulled out of 200 cities in India, and these accounted for less than 5% of revenues”.

The two executives were cautious about the China market, given the coronavirus that has all but put a halt to travel. “The coronavirus crisis is gripping all of China, it will impact the business in the short term. We can’t say how much,” said Ghosh. “It is too soon to say how much our business will get impacted, there are too many affected provinces and it is too sensitive a matter.”

Continue Reading

Business

 Vodafone Idea will try to pay AGR dues, continuation of business depends on SC order

Published

on

Vodafone_Idea
Spread the love

Vodafone Idea, which was the worst hit by the Supreme Court order in the case related to adjusted gross revenue (AGR) dues on Friday, is in the “process of assessing the dues it will be able to pay to the government and will pay this in the next few days”, the company said in an exchange filing on Saturday.

“We wish to inform that post the hearing yesterday, the company has received letters from Department of Telecommunications directing immediate payment,” Vodafone Idea said on Saturday. Vodafone Idea said” The company is currently assessing the amount that it will be able to pay to DoT and it proposes to pay the amount so assessed in the next few days” .

Debt-floated telecom operator Vodafone Idea on Saturday said it is “assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business”. The company said it is “in the process to pay adjusted gross revenue dues as per the Supreme Court order. However, the continuation of business in India will depend on favourable order on its modification plea filed before the apex court”.

Vodafone Idea said in a BSE filing “The Company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR (Adjusted Gross Revenue), as interpreted by the Hon’ble Supreme Court in its order dated 24 October 2019. The Company proposes to pay the amount so assessed in the next few days,” .

Vodafone Idea Ltd (VIL), whose liability is estimated to be around Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given.

The company said in the filing”As disclosed in the Company’s financial statements for quarter ending December 31, 2019, the Company’s ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the Supplementary Order” .
The next date of hearing is scheduled for March 17, 2020.

Continue Reading

Get more Headlines

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Trending