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Newpaper24 - Global online News around the World definition-tweaked-startups-can-seek-exemption-from-angel-tax Definition tweaked, startups can search exemption from angel tax, Expertise Information, ETtech - NEWPAPER24  Newpaper24 - Global online News around the World definition-tweaked-startups-can-seek-exemption-from-angel-tax Definition tweaked, startups can search exemption from angel tax, Expertise Information, ETtech - NEWPAPER24

Startups

Definition tweaked, startups can search exemption from angel tax, Expertise Information, ETtech – NEWPAPER24

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Definition tweaked, startups can search exemption from angel tax, Expertise Information, ETtech

2018-04-13 03:27:25

The federal government has refined the definition of startup and put in place a mechanism for such corporations to safe exemption from the so-called ‘angel tax’ with retrospective impact and avail tax incentives below its startup coverage.Consultants, nonetheless, stated availing exemption might not be simple given the situations imposed.

Startups with whole funding together with funding from angel buyers as much as Rs 10 crore can search approval from an eight-member authorities board for exemption from tax below Part 56 of the income-tax regulation, the federal government stated in a notification issued on Thursday.

The federal government has additionally constituted a board that may have illustration from the Reserve Financial institution of India, inventory market regulator Sebi, Central Board of Direct Taxes and the related ministries.The federal government stated startups are prone to have quick access to funding, which in flip will guarantee ease in beginning of latest companies, promote startup eco-system, and encourage entrepreneurship, resulting in extra job creation and financial progress.

Robust situations
Beneath Part 56 of I-T regulation, a startup receiving fairness infusion in extra of truthful worth faces tax. The regulation treats such fairness infusion as different earnings and is accordingly taxed. Many startups have already acquired tax notices for this ‘angel tax’.

Now, a startup might be spared this tax if it meets particular situations. For instance, the combination quantity of paid-up Share capital and Share premium of the startup after the difficulty of shares shouldn’t exceed Rs 10 crore.

The startup also needs to get hold of a report from a service provider banker specifying truthful market worth of shares below income-tax guidelines.

The angel investor ought to have common returned earnings of Rs 25 lakh or extra for previous three monetary years and internet price of Rs 2 crore or extra as on the final date of the previous monetary 12 months.

Purposes for certification of startups below Part 56 are to be submitted via on-line portal to DIPP for consideration of the inter-ministerial board.

There isn’t a restriction on class of buyers and eligible startups. They’ll obtain funding from any particular person in opposition to problem of Share capital.

Trade stated requirement of approval from a service provider banker specifying the truthful market worth of shares is an enormous hurdle and paperwork and bills will rise for these wanting exemption. “How will a service provider banker know what’s the subsequent GoogleRs ” stated Padmaja Ruparel, president of Indian Angel Community.

Vinod Murali, managing companion at Alteria Capital, stated, “Whereas a certification on truthful market worth is critical below Firm Regulation, normally corporations get it via a chartered accountant. With a service provider banker, the prices could go up.”

Traders, nonetheless, stated the clauses for funding and internet price and Rs 10-crore threshold are applicable.

Tax incentive and definition
Beneath the startup coverage, 100% deduction of earnings and positive aspects from earnings is allowed for 3 out of seven consecutive evaluation years below 80 IAC of the Act.

A startup integrated after April 1, 2016 however earlier than April 1, 2021, might be eligible for this tax incentive. It will must make an utility to the board for certificates of exemption.

Startups arrange as personal restricted firm or restricted legal responsibility partnership and integrated after April 1, 2016, can be eligible for tax concessions.

An organization will benefit from the standing of startup as much as seven years from the date of incorporation, or as much as 10 years if it’s in biotechnology sector. However it can lose its startup tag ought to its turnover in any 12 months exceed Rs 25 crore.

It should work in direction of innovation, improvement or enchancment of merchandise or processes or companies, or if it’s a scalable enterprise mannequin with a excessive potential of employment era or wealth creation.

Startups

Is Amazon a high-paying tech firm or a low-wage retailer?, Know-how Information, ETtech – NEWPAPER24

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Newpaper24 - Global online News around the World is-amazon-a-high-paying-tech-company-or-a-low-wage-retailer Is Amazon a high-paying tech firm or a low-wage retailer?, Know-how Information, ETtech - NEWPAPER24

Is Amazon a high-paying tech firm or a low-wage retailer?, Know-how Information, ETtech

2018-04-21 06:24:01

By Barry RitholtzWe’ve simply realized that the median wage of workers at Amazon.com Inc. is $28,446, excluding its chief govt officer and founder, Jeff Bezos. That pitiful quantity raises an intriguing query: Is Amazon a high-paying tech firm or a low-wage retailer?

“Each” is the plain reply, however to this Amazon aficionado that reply is incomplete.

The pay determine, which was disclosed for the primary time in Amazon’s annual proxy assertion, displays the big variety of low-paid retail and warehouse workers who work for the corporate. The proxy additionally disclosed that Bezos was paid $1.68 million, making the ratio of what Bezos was paid and the median pay 59-to-1.What does that ratio inform us? Actually, not very a lot. Bezos, based on the proxy, had a wage of $81,840 in 2017. The remainder was within the type of perks, a lot of it for “safety preparations” and journey. However Bezos’s pay, which appears reasonably modest when stacked up towards the obscene earnings of many different company chiefs, is sort of irrelevant. That is as a result of Bezos is the world’s wealthiest particular person, with a fortune now estimated at about $129 billion (relying upon the worth for Amazon’s inventory).

In order that ratio, though correct, means subsequent to nothing. In the event you actually wish to perceive the hole between CEO and employee, take into account as a substitute the ratio between the web value of the boss and his workers: I did, and it is past measure. Critically, 100 billion-to-1 will not be an outlandish estimate.

Here is how I got here up with that ratio. Let’s start with the very lifelike assumption that the median web value of all of these 1000’s of Amazon warehouse serfs is — like that of the remainder of hand-to-mouth America — someplace between detrimental and a bit greater than zero. As Gizmodo reported yesterday, Amazon’s warehouse staff are among the many high 20 recipients of meals stamps. These persons are borderline impoverished, and the one manner they make ends meet is by turning to authorities subsidies.

How did this occur?
The principle offender, in fact, is market forces: stagnant wages, globalization, the China shock, automation and the rise of software program. These created circumstances that Bezos skillfully took benefit of.

The corporate’s growth into so many corners of the economic system gives a partial clarification as nicely. Among the firm’s enterprise strains are clearly pure tech: its Amazon Net Providers cloud enterprise; the streaming audio, video and content material providers; the gadgets group creating devices like Echo, Firestick and Kindle; its platform to permit third events to promote items and now providers to customers, with Amazon taking a slice off the highest. All of those leverage the know-how infrastructure Bezos & Co. constructed to service on-line customers.

However the firm’s first and nonetheless dominant enterprise is promoting bodily merchandise after which delivery them to customers. Though this enterprise depends critically on know-how and logistics, it would not exist with out an enormous bodily footprint made up of warehouses and distribution facilities very like these of any massive retailer. The corporate’s presence within the brick-and-mortar retail trade solely bought larger when it purchased Entire Meals Market Inc. final yr for $13.7 billion.

To function in what I wish to name the meatspace of warehouses and supermarkets and delivery and bodily shops requires a whole lot of 1000’s of workers. These aren’t extremely paid coders, engineers and product managers, however as a substitute are inventory clerks and cashiers and drivers. Final yr, Amazon handed 500,000 workers (it now has about 566,000, based on information compiled by Newpaper24). Examine that with Alphabet Inc.’s (Google) 80,000 as of the top of 2017, Apple Inc.’s 100,000 and Fb. Inc.’s 25,000.

The pay scale is vastly completely different as nicely, primarily due to the form of workers every firm has.

Apple’s common wage, based on information analysis agency Paysa, was $100,733. That features plenty of retail staff at Apple’s shops (although clearly not the low-paid staff at contractors like Taiwan-based FoxConn Know-how Co., which do a variety of the meeting work on Apple’s merchandise). At Google, which has no retail staff, the typical worker wage is $190,854. At Fb the typical is $203,894.

As we will see, Amazon is a tech outlier. Its traders have given it a move for producing little or no web revenue throughout a lot of the 21 years because it went public. The identical is not true of its massive tech friends, all of whom are enormously worthwhile. I ponder how for much longer clients like me will proceed to look the opposite manner.

This column doesn’t essentially replicate the opinion of the editorial board or Newpaper24 LP and its house owners.

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Startups

China is rising whereas the US is waning – TechCrunch – NEWPAPER24

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Newpaper24 - Global online News around the World gettyimages-508484785 China is rising whereas the US is waning – TechCrunch - NEWPAPER24

China is rising whereas the US is waning – TechCrunch

2018-04-20 19:02:18


Startups are a chance, nevertheless it’s attainable to raised perceive why some thrive and lots of extra die by trying on the ecosystems wherein they function. Such is the mission of eight-year-old Startup Genome, composed of a bunch of researchers and entrepreneurs who, yearly, interview hundreds of founders and traders world wide to get a greater deal with on what’s altering within the areas the place they function, and what stays stubbornly the identical.

The bigger goal is to determine learn how to assist extra startups succeed, and the outfit — which this yr surveyed 10,000 founders with the assistance of companions like Crunchbase and Dealroom — produced some information that ought to maybe concern these within the U.S. To wit, China seems to be positioned to overhaul U.S. dominance in the case of quite a few tech sectors. Contemplate: In 2014, simply 14 p.c of so-called unicorns had been primarily based in China. Between the beginning of final yr by at the moment, that share has shot as much as 35 p.c, whereas within the U.S., the variety of homegrown unicorns has fallen from 61 p.c to 41 p.c of the general world quantity.

You could possibly argue that traders are merely assigning China-based startups overly lofty valuations, as occurred right here within the U.S., and we partly consider that to be true. However China can be clearly “in it to win it,” primarily based on a take a look at patents, with 4 instances as many AI-related functions and thrice as many crypto- and blockchain-related patents registered in China final yr. With a lot of the tech trade now centered on deep tech, it’s price noting. In actual fact, as a lot as we loathed the January Monetary Occasions column penned by famed VC Michael Moritz, who steered that U.S. firms comply with China’s lead, his underlying name to arms was most likely, gulp, prescient in its personal manner.

What else ought to startups know? In keeping with Startup Genome’s findings, along with the rise of AI, blockchain and robotics manufacturing, there are clearly declining sub sectors, too, together with, least surprisingly, adtech, which has seen a roughly 35 p.c drop in funding during the last 5 years. Little question that ties on to the rising dominance of Fb and Google, which accounted for 73 p.c of all U.S. digital promoting final yr, in line with the fairness analysis agency Pivotal.

That doesn’t imply adtech startups are cooked, notes the examine’s authors. Fairly, declining sub-sectors are sometimes “mature” however could be revived by new applied sciences. On this case, whereas funding for adtech has dropped, digital actuality and augmented actuality might nicely inject some new development into the trade sooner or later. Perhaps.

Both manner, to us, essentially the most fascinating aspects of this report — and it truly is price poring over — are the connections it’s capable of make by speaking with so many individuals world wide. It addresses, for instance, how Stockholm, a comparatively small startup ecosystem, is ready to produce sizable startups at a significant price, versus Chicago, whose ecosystem is ostensibly thrice larger. (The reply: Stockholm’s startup founders are apparently higher linked to the world’s prime seven ecosystems.)

Additionally fairly fascinating is the report’s findings about ladies founders, who construct extra relationships with regional founders and are extra domestically linked than their male counterparts — besides with traders. That’s unhealthy information for each ladies founders and traders, as native connectedness is related to higher startup efficiency.

To learn the report in full, click on over right here. You must fork over your e mail handle, however with 240 pages crammed with fascinating nuggets and different helpful data, you’ll possible discover it nicely price it.

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Startups

This robotic can construct your Ikea furnishings – TechCrunch – NEWPAPER24

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Newpaper24 - Global online News around the World This-robot-can-build-your-Ikea-furniture-–-TechCrunch-NEWPAPER24 This robotic can construct your Ikea furnishings – TechCrunch - NEWPAPER24

This robotic can construct your Ikea furnishings – TechCrunch

2018-04-20 13:15:04


There are two varieties of individuals on the earth: those that hate constructing Ikea furnishings and madmen. Now, due to Ikeabot, the madmen could be changed.

Ikeabot is a challenge constructed at Management Robotics Intelligence (CRI) group at NTU in Singapore. The group started by instructing robots to insert pins and manipulate Ikea elements after which, slowly, started to determine the best way to pit the robots towards the furnishings. The outcomes, for those who’ve ever fought with somebody making an attempt to place collectively a Billy, are heartening.

From Spectrum:

The meeting course of from CRI shouldn’t be fairly that autonomous; “though all of the steps have been mechanically deliberate and managed, their sequence was hard-coded by means of a substantial engineering effort.” The researchers point out that they’ll “envision such a sequence being mechanically decided from the meeting handbook, by means of natural-language interplay with a human supervisor or, finally, from a picture of the chair,” though we really feel like they need to have a chat with Ross Knepper, whose IkeaBot appeared to just do effective with none of that stuff.

In different phrases the robots are semi-autonomous however by no means get pissed off and might use primary heuristics to determine subsequent steps. The robots can now primarily assemble chairs in about 20 minutes, a feat that I doubt many people can emulate. You possibly can watch the completed dance right here, in all its robotic glory.

One of the best half? Even robots get pissed off and fling elements round:

I, for one, welcome our Ikea chair manufacturing robotic overlords.

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