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Suresh Prabhu
@sureshpprabhu
, 4 tweets, 3 min read Read on Twitter
Definition of #Startups has been widened. An entity shall be considered a Startup upto 10 years from its date of incorporation/registration instead of the existing period of 7 years.
#AngelTax @DIPPGOI
An entity shall be considered a Startup if its turnover for any of the financial years since its incorporation/registration hasn’t exceeded Rs 100 Crore instead of existing INR 25 Crore. #Startup #AngelTax
Considerations of shares received by eligible Startups for shares issued or proposed to be issued by all investors shall be exempt up to an aggregate limit of Rs 25 crore. #AngelTax #Startup
Investments into eligible Startups by Non-Residents, Alternate Investment Funds- Category I registered with SEBI shall also be exempt under Section 56(2)(viib) of Income Tax Act beyond the limit of Rs 25 crores. #AngelTax #StartUp
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Startup India
@startupindia
@DIPPGOI issues Gazette Notification issuing amendments to the existing Gazette Notification No. G.S.R 364 (E) dated April 11, 2018 as modified by Gazette Notification No. GSR 34(E) dated January 16, 2019.
Refer to the notification here: bit.ly/2BHRJdT (1/14)
Definition of Startups has been enhanced. An entity shall be considered a Startup upto 10 years from its date of incorporation/registration (instead of the existing period of 7 years), if its incorporated as a Pvt. Ltd. Company, or registered as a partnership firm or LLP. (2/14)
Definition of Startups has been enhanced. An entity shall be considered a Startup if its turnover for any of the financial years since its incorporation/registration hasn’t exceeded INR 100 Crore (instead of existing INR 25 Crore). (3/14)
Read 14 tweets
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DPIIT India
@DIPPGOI
DPIIT issued a Notification today to revise definition of startups and for startups to get exemptions on investments u/s 56(2)(viib) of Income Tax Act. An entity to be Startup now upto 10 years from date of incorporation if its turnover has not exceeded Rs 100 Crore in a year.
Under the new notification, an entity to be a Startup now upto 10 years from its date of incorporation/registration instead of the existing 7 years and if its turnover has not exceeded Rs 100 Crore instead of existing INR 25 Crore in a year.
Investments made or to be made by all investors including family and friends into startups shall be exempt up to a limit of Rs 25 crore.
Read 10 tweets
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Pankaj Jain 🖖
@pjain
1/ Most people have been watching in shock as the story of dreaded #AngelTax reared it's disgusting head. Freezing the accounts of startup @Travelkhana and @babygogo_in has resulted in an uproar across India's startup community, calling for #ShutdownIndia
2/ Though the Central Board of Direct Taxation (CBDT) has released a circular claiming that the officer in charge of this particular case did everything by the book. Founder of @Travelkhana, @pushpinder has disputed the story, claiming the officer rushed the case through.
3/ Regardless whether the case was rushed through or not, is almost irrelevant because in any logical, normal universe, the case shouldn't exist at all. Period!
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RomeshNadir🇮🇳
@RomeshNadir
I will soon, sum up the achievements of BJP Government under PM Narendra Modi as The Story Of #ResurgentIndia when the People witnessed first time the Governance committed in Speed, Scale and Spectrum in Transforming India #5_साल_50_निर्णय #IndiaSurging
#DirectBenefitTransferScheme is a huge Transformational step in removal of middlemen who were encroaching like vultures on d monetary help rendered by Government to d poor. The Scheme ensures direct transfer into d Bank account of beneficiaries. #ResurgentIndia #IndiaSurging
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'Bosun Tijani
@bosuntijani
@africatechie It is only sad because we are lazy and can't see it as a huge opportunity. It is why I can never forgive the current president of Nigeria for his appointments in tech, science & tech and education. This is a unique time in history. We can't stop the exodus - we can milk it!
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John Cutler
@johncutlefish
Advice to a friend dealing with their chaotic startup...

Startups are inherently chaotic. No chaos = no opportunity. Startups exist because there is uncertainty, and new things to learn. (1/7) #startup
During a period of rapid growth, all things (structures, processes, etc.) eventually break. Some chaos is self-inflicted, and too much chaos can cause collapse / chronic harm (2/7) #startup
Agility is solving today’s problem, while not limiting your ability to solve tomorrow’s problem. There’s always a temptation to solve tomorrow’s problems.

There are good ideas everywhere, and opportunities everywhere. So focus is hard (3/7) #startup
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