Well, I wrote earlier that hon'ble Finance Minister, perhaps, forgot the one change in the Income Tax Act that may hinder the progress of Startup Scheme - the flagship program for generating jobs by Modiji. Please read One Startup Taxation Problem Still Left to Be Solved! Now after I read the Economic Times news article wherein lots of comments have comeup, I decided to publish this article, which will bring two fresh idea for stratups for generating fund without a taxation problems, especially the provision u/s 56(2)(viib) under which the excess of premium, which cannot be justfied be added as income from other sources. In a nutshell, this article will deal with following issues:
- Startups can issue shares on premium without limit and without any botheration. How?
- What are the special tax benefits ( hidden from public glare) for a certain class of investors in startups?
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