The Central Board of Direct Taxes (CBDT) has mandated ‘e-proceeding’ for all income-tax scrutiny in 2018-19. It has also specified seven situations where e-proceeding will not be mandatory this year. These include search cases, cases where returns were filed in paper mode and the assessee doesn’t have an e-filing account, and geographical areas with limited bandwith.
- Amit Agarwal, Partner shares his views on aforementioned story for Hindu Business Line- Front page story.
On a recent circular, The tax department exempted angel investors from income tax on their investments in start-ups with effect from April 11. The tax concessions are subject to certain conditions laid down by the Department of Industrial Policy and Promotion last month, which said that the share capital and share premium of the start-up should not exceed Rs 10 crore after such investments.
Amit Agarwal, Partner shares his views on aforementioned story for PTI.
(This news has been picked by 92 other news publications like Indian Express, Business Standard- front page, Hindu Business Line, Business Today etc.)angel-investors-in-start-ups-get-i-t-exemption-effective-april-11
Flipkart founders Sachin and Binny Bansal may have to pay 20 per cent capital gains tax if they sell their shares in the company as part of the proposed deal with US retail giant Walmart, say tax experts. The Indian e-commerce major is in discussions to sell majority holding to Walmart and an announcement to this effect is likely to be made soon, sources close to the development said.
2. Amit Agarwal, Partner shares his views on Walmart-Flipkart Deal: High stakes tax fight in India can’t be ruled out for Financial Express.