Finance Minister Arun Jaitley has proposed extending the window for startups to avail tax benefits to first seven years of existence, a move that will allow new ventures to extract full benefit of the permitted deductions. Earlier, startups were allowed to claim profit-linked deduction for three years out of the first five years of existence. […]
China’s e-commerce giant Alibaba paid a total of USD 3.41 billion in taxes in 2016 and created 30 million jobs, the company said. Alibaba led merchants operating on its platforms, upstream manufacturers and logistics companies to pay at least 200 billion yuan in taxes last year and created more than 30 million jobs, it said. […]
Government today said small traders will be able to save up to 46 per cent in tax by migrating from cash to digital transactions as the decision to tweak the presumptive income norms would reduce tax liability. “Apart from making a tax saving of almost 46 per cent by migrating to banking mode, the small […]
The taxi industry, with a potential of $7 billion to be reached by 2020( as predicted by SoftBank) has started sheltering e-payment besides cab hailing services. While everyone is familiar how Uber and Ola are striving to gain an upper hand in this sector, theres a silent battle brewing between the wallet and payment service […]
ClearTax , an online tax returns filing platform has raised another $12 million (Rs 80 crore) from SAIF Partners. The new round of funding will use to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. Also as part of the deal , managing partner at SAIF, has joined […]
Online tax returns filing platform ClearTax, has raised $2 million (Rs 13.3 crore) from FF Angel, and Sequoia Capital. The company will use the proceeds from the round to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. “We have taken the long route, and now we are extremely excited […]
ClearTax, India’s leading Income Tax Returns e-filing website, has announced the appointment of Prasanth Nair, Aakash Bapna and Jai Santosh as a part of its technology vertical. The Bengaluru-based company is also in the process of recruiting another director-level executive from Flipkart. Prasanth will occupy the position of Vice President – Engineering at ClearTax and […]
Biz2Credit, a leading online resource in personal and small business finance, today announced a marketing partnership with TaxSpanner, one of Indias largest and most trusted company that offers online preparation and filing of Income Tax Returns (ITR) for individuals and businesses. “Our agreement will ultimately enable individuals and entrepreneurs to access personal and business finance […]
Infosys sacked three of its techies who were arrested on a bribe charge levelled by the Income Tax Department.
Facebook India’s profit jumped about 40% to Rs 57 crore in the year ended March 2018, reflecting the increasing adoption of social media in a country where data costs have reduced drastically. The company’s total revenue in India surged 53%. The social media major in a financial statement said that the services it provided to the US […]
The Indian government and the Reserve Bank of India (RBI) are in talks to allow use of ‘offline Aadhaar’ that relies on QR codes. This would replace the biometric eKYC, for opening bank accounts, operating payment wallets and purchasing insurance covers. This particular move is significant as it will also benefit financial technology companies that […]
The Indian government has come up with new hikes in the interest rate on small savings schemes including public provident fund or PPF and also on Kisan Vikas Patra or KVP. The interest rate of PPF has been altered to 8% interest rate for the October to December quarter, up from 7.6% in the current quarter. On […]