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India: Taxation of start-up “angel investments”

India: Taxation of start-up “angel investments”

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).

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  • Tax treatment of “angel investments” in start-up companies: The Central Board of Direct Taxes (CBDT) issued a circular with regard to the tax treatment of “angel investments” in start-up companies. Read an August 2019 report [PDF 641 KB]

  • Withholding tax at higher rate: The Delhi High Court held that a withholding certificate that directs Indian entities to withhold tax at a higher rate on payments made to the taxpayer was contrary to requirement provided by the Income-tax Act, 1961 and regulations. The case is: Bently Nevada LLC. Read an August 2019 report [PDF 499 KB]

  • Payments to foreign entities for training of pilots and crews not royalties, taxable in India: The Bangalore Bench of the Income-tax Appellate Tribunal held that payments made by an Indian airline company to foreign entities for training its pilots and cockpit crews outside India were not taxable as royalties under the Income-tax Act, 1961 or under applicable income tax treaties. The case is: Kingfisher Airlines Ltd. Read an August 2019 report [PDF 723 KB]

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