Thread by @1stPreneur

@narendramodi @PMOIndia I am a digital entrepreneur who for last 2 years has been struggling with #AngelTax. Even after CBDT exemption cases r not getting disposed favorably by CIT(A).
I believe only u can now help the startups. I am requesting a meeting to hear & help us. DAY-1

Our companies are slapped with tax+ penalties where investment is treated as income purely on AO's discretion on valuation. CITs rejecting appeals after CBDT exemptions. We need help otherwise India will miss the startup bus. PLease help - @narendramodi @PMOIndia : DAY-2

Our TDS returns r getting adjusted against the outstanding demand even when the appeal is in progress. How do we focus on our business while our energy is getting sapped running pillar to post bcos of unjust #AngelTax Pls help @narendramodi @PMOIndia DAY-3

CIT(a) are not disposing #angeltax appeals. Infact they are not hearing the cases even. @narendramodi @PMOIndia pls help. DAY-4

Startups under CIT appeal process r getting their TDSs adjusted against the outstanding #AngelTax demand by CPC. Service startups with less than 10% margin cant survive if their TDS returns are adjusted. they will burn. Pls help @narendramodi @PMO - Day-5

Startups with demand orders are finding it difficult to attract new investors as they fear getting embrolied in the draconian #AngelTax demand. Deals are getting delayed and survival is becoming difficult forget growth. Please help @narendramodi @PMOIndia - DAY 6

CIT(A) are telling they r advised not to take up cases whr demand >10lacs. Naturally all startups with higher #AngelTax demands are put into Limbo. This delay is causing unnecessary heartburns for young entrepreneurs. Please help fix this stalemate @narendramodi @PMOIndia Day-7

Another day another company - this time Sellerworx pressed by the AO to pay the 20% of the demand value during CIT(A) stage, even when CBDT has clear notifications not to harrass startups and seek this 20%. What do we do ? @narendramodi @PMOIndia pls help - Day 8

~200 startups with average demand of Rs 50 lacs is just 100 cr #angeltax revenue for GOI. However, the risk of shutdown is imminent for these startups that have created 10,000 jobs and ~100cr of GST/Tax revenue/yr. Its not worth it sir @narendramodi @PMOIndia -Please help - Day 9

For the time we could have spent selling or building our products, we r unsuccessfully trying to argue with AOs/CIT(A)s. u know how valueable startups r for India. Give us a chance to present our case to you. @narendramodi @PMOIndia - Day 10

Progressive countries such as Singapore, Estonia, US and even China are incentivising startups by easing regulations n providing easy access to capital and here in India we are taxing investments. India needs execution of your vision sir Pls help @narendramodi @PMOIndia - Day 11

Even a small country like Chile incentivises startups across world to move to Chile and give 50,000 USD of funding without an equity ask.. Here v r killing startups with legitimate funding with #angelTax demands .. Sir, pls support us - @narendramodi @PMOIndia - Day-12

The dilemma for entrepreneurs is whtr to push CIT(A) now given d recent rejections in #AngelTax appeals. The push creates a risk of appeals getting rejected while the wait #angeltax doesnt allow one's to focus on anything else. Pls help @narendramodi @PMOIndia - Day 13

The Irony is that even after CBDT directive for no coercive action for #AngelTax cases, we got a CPC letter stating that our TDS was adjusted againt d demand & with approval of our AO. Please give us a meeting to explain our plight @narendramodi @PMO - Day 14

We r back to Square one. @startupindia clearly says they promised zilch to people with orders ignoring that people with just notice never complained. So whose problem were they solving ? @narendramodi @PMOIndia sir, pls intervene as founders feel this is a breach of trust- Day 15

@DIPPGOI CBDT officials r now busy justifying that they cant do much for strartups with orders; While earlier, they in no uncertain terms were promising founders that internal communication to CITs to favourably dispose cases wld be issued- Pls help @narendramodi @PMOIndia- Day16

Today @FinMinIndia has a golden opportunity to do away with this unjust #Angeltax that has demotivated startups so much so that everyone is thinking of setting a shop abroad. Pls help fix it @narendramodi @PMOIndia - Day17

A promising budget for startups yesterday left out d most affected ones in the wordings when it just talked about startups in assessments proceedings & not the ones with demand orders on #Angeltax. Pls help 200 companies With orders. @nsitharaman @narendramodi @PMOIndia-Day18

@amitabhk87 sir you said you would resolve the pending demand issues in @CNBCYoungTurks @ShereenBhan show today.. Here is one thread that can help you discover deep issues which every startup with #AngelTax are facing. It would be help. thanks!

Startups with #Angelfax demand orders & rejected appeals are hoping that restropective implementation of the CBDT notification without any if and buts, or and Ands. Hope @FinMinIndia @PMOIndia @narendramodi ensure that the relief is absolute and covers every affected case. Day19

Unless there is deadline given to sort out all #AngelTax demand cases pending at CIT/ITAT level, Startups r not going to trust any promises made by any GOI official. Its time startups get one scoop solution to all pending cases- pls help. @narendramodi @PMOIndia - Day 20

"Idea is nothing execution is everything" is the mantra startups live by. Solution proposed fr #Angeltax issues fr startups with orders is just an idea. Actual execution is when CIT honours CBDT directives. Pls execute it in letter n spirit. @narendramodi @PMOIndia @FinMinIndia

GOI has to weigh that for mere 100cr of potential revenue (200 startups coughing avg 50lac each), almost 200*100=20,000 local jobs will get destroyed if a company moves/closes. 1 case of #AngelTax wilruin our country's image-Pls help @narendramodi @nsitharaman @PMOIndia - Day 21

If India has to create 50K startups then the #AngelTax soln has to cover all cases. New entrepreneurs get motivated when they see success stories.They wouldnt take the plunge if they just see depressed founders all around. Pls hear us - @narendramodi @PMOIndia @nsitharaman-Day 22

India will jump to the top of the list of countries for ease of doing business if she gets rid of such unfriendly & unfair laws such as #AngelTax altogether instead of removing one onerous condition while adding two. save startups pls -@PMOIndia @narendramodi @nsitharaman - Day23

There is defeaning silence from the officials on how they wld manage the #AngelTax demand cases for 200 odd startups? No specifics. How can founders concentrate on their startups in such a blackbox scenario. Pls hear us and give us a meeting @narendramodi @PMOIndia @nsitharaman

SAAS/Service oriented startups r seeing its 10% TDS, deducted by clients, getting adjusted against the outstanding #AngelTax demand. 10% of company cashflow blocked for an infinite period is pushing companies towards closure. Pls help - @narendramodi @PMOIndia @nsitharaman -Day25

May the startup founders struggling with #AngelTax demand orders find their guru & savior today in shri @narendramodi ji, rescuing them from the perennial pain they are going through. Pls help - @PMOIndia @nsitharaman - Day 26

A potential investor when learned about our contingent #AngelTax liability bailed out citing uncertainity on the outcome.. pls help us out of this agony @narendramodi @PMOIndia @nsitharaman - Day 27

another startup with CBDT exemption got its TDS adjusted against thr demand order while waiting for CIT hearing. This when the startup has already been forced to cough up 20% (1lac+) for filing CIT appeal. Is this non co-ercion? pls help @narendramodi @PMOIndia @nsitharaman Day28

A month today requesting to hear us, the aggrieved founders and victims of #AngelTax. If there is a solution getting designed for our cases, pls do hear our concerns and ensure noone is left out to fend on its own - please help @PMOIndia @narendramodi @nsitharaman

entrackr.com/2019/07/govt-2… … excellent move to heavily tax the one who miuses #AngelTax exemptions. WIth such a stringent penalty is place its time that startups with demand orders be freed from the #AngelTax demands. Please hear us- @narendramodi @PMOIndia @nsitharaman -Day 30

If #AngelTax is not #TaxTerrorism then what is ? GOI by delaying a permanent and just solution for startups with demand orders is forcing old and new entrepreneurs to look for safer heavens for their ventures . Pls help @narendramodi @PMOIndia @nsitharaman - Day 31

Delay is justice denied. The more @FinMinIndia keeps delaying a permanent and just solution for #AngelTax demans for young startups the more dischanted new entrepreneurs will become. Pls help us and timely solve our issue - @narendramodi @PMOIndia @nsitharaman @amitabhk87