Startup brace for legal war with I-T

Startups that have been ordered to pay tax despite valuations being marked down in recent funding rounds are challenging the demands, complaining that the move runs counter to the government’s campaign to encourage entrepreneurial spirit.

With startup fever having waned over the past year or so amid concerns over profitability and competition, valuations have declined sharply. Last month, the tax consultancy firms in Delhi department challenged such reductions at about 100 startups and issued orders seeking 33% tax at the elevated levels that prevailed earlier.
Some startups have moved the income-tax tribunal against the notices while others have approached their advisers and could seek legal recourse in the coming days.


Contact Details

Company Name: Neeraj Bhagat & Co.
Issued By: neeraj bhagat
Phone: 9810158561
Address: 1156, Tower B2, 11th Floor, Spaze I Tech Park, Sohna Road, Sector 49, Gurgaon - 122001
City: haryana
State: Gurgaon
Zip: 122001
Country: India
Website: Visit the website

Keywords : Indirect taxation in India, Chartered accountant firms in mumbai, Direct foreign investment in India, Tax consultancy firms in Delhi ncr,

by neeraj bhagat (few years ago!)

Latest Press Releases

The Mad Hatter Now Offer a Full Line of Hearth Products and Full Line of Grills

Diabetes Insulin Delivery Pens Market Research Report 2018

Dr Kapadia Provides Tips to Patients Interested in Hair Transplant Procedures

love vashikaran specialist

Solar Blanket Sales Market Report 2018

Spring Bottled Water Market Insights, Forecast to 2025

Biochemical Incubator Sales Market Report 2018

Quinine Sulphate Sales Market Report 2018

Automotive Chassisc System Market Insights, Forecast to 2025

2,6-Dicarboxypyridine market size in key regions like North America, Europe, Asia Pacific an..

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.