Recent Posts

Pages: [1] 2 3 ... 10
1
Global Technology Updates / YouTube has over 245 million m...
Last post by Sudhakar - Apr 02, 2019, 07:04 PM
YouTube has over 245 million monthly active users in India? - your story

Did you know that YouTube has over 245 million monthly active users in India? The platform credits a lot of this growth to Jio, and local languages, saying that more than 60 percent of its watch-time in India comes from outside the metros.


Today, there are over 300 YouTube channels from India that have more than one million subscribers. Just five years ago, this number was only 16. 'YouTuber' is fast becoming an enviable tag, with content creators quitting full-time jobs, catering to millions of internet users in India.


BCG predicts that India's online video market to be worth $5 billion by 2023, and YouTube is likely to occupy a giant share of that pie.


Visit - Read more about the rise of YouTubers in India and how Indian YouTube stars are now going global.
2
Hot News - InFocus / A Young Protester Changing The...
Last post by Sudhakar - Mar 24, 2019, 02:36 AM
A Young Protester Changing The World


Error 404 (Not Found)!!1


youtube link - https://www.youtube.com/watch?v=W5iHuSFJIEI


Fearing for her future, 15 year-old Greta Thunberg did the only thing she could think of: she sat in front of her country's Parliament building with a sign, alone. Seven months later, her voice is millions strong.

This Young Activist Is Changing The World. Warning: Her inspiring speech may motivate you to take action too!

16 Year Old Protester Changes The World | Greta Thunberg | Goalcast





========================================ญญญญญญญ========
#ChangeTheWorld #GretaThunberg #InspiringSpeech


Category -Entertainment
3
Hot News - InFocus / What is Spring Equinox
Last post by ganeshbala - Mar 20, 2019, 06:39 PM

An equinox is an astronomical event that occurs due to the Earth's tilt on its axis. For half the year, the northern hemisphere gets more daylight while for the other half the southern hemisphere has "longer" days.
 

What happens during the spring equinox?

The March equinox marks the moment the Sun crosses the celestial equator - the imaginary line in the sky above the Earth's equator - from south to north. This happens on March 19, 20, or 21 every year.

Watch the video below to undersand better.

https://youtu.be/kaG6PTVrFP4
4
Movies & Commercials / Yours Shamefully 2 - Best Movi...
Last post by karthick - Feb 28, 2019, 05:05 AM
Yours Shamefully 2

One of best short movie i have seen in recent days.

nice script, excellent screenplay, amazing playback and good scripted acting.. These kind of thoughts should not stop with short movies.. the director thinking is good to reach big screen soon..


https://www.youtube.com/watch?v=9DQq3t5tn30#
5
Just look at the Government Budget 2019 and how is was understood to an author

With the Lok Sabha Elections scheduled to take place in few months, Finance Minister Piyush Goyal presented interim budget on February 1, 2019. The FY19 fiscal deficit was pegged at 3.4% of the GDP with the current account deficit at 2.5% of the GDP. The FY20 fiscal deficit target set at 3.4%.

Last 5 years has witnessed a lot of reforms in the Indian Economy. India from being the 11th largest economy in the world in 2013-14, is today the 6th largest economy in the world.  The average inflation rate has been reduced from double digit to the single digit. The Modi government came up with the biggest tax reforms in the Indian Economy with the implementation of the GST. India also attracted the massive amount of FDI during the last Years. The government also took anti-black money measures in the form of Black Money Law and Demonetisation to eliminate the ills of the black money from our country.

Talking about the vision for next decade, he also said that we are poised to become a Five Trillion Dollar Economy in the next five years and aspire to become a Ten Trillion Dollar Economy in the next 8 years thereafter.

Now, let's talk about the budget which is presented, ever for the first time in the history of the Indian Economy, by the Chartered Accountant:

Real Estate:

The Minister came with a number of tax benefits for the real estate sector in the affordable housing category.  The sector which has been facing a lot of slowdown may expect a boost with these measures.

The budget announced the relief to real estate developers by extending the benefits of Sec 80 IBA of the Income Tax Act for the one more year i.e. upto 2020. The major proposal came out to remove tax on notional rent on the second house if it is vacant.

The budget also proposed to extend the period of exemption from levy of Tax on notional rent, on unsold inventories, from one to two years.

Poor and Backward Class:

Keeping the existing reservation as it is, the government have ensured 10% reservation in the Educational Institutions and Government for the poors. The allocation to MNERGA stood at Rs. 60,000 crores.

The world's largest healthcare programme - "Ayushman Bharat" has been launched to provide medical treatment to nearly 50 crore people. This programming is helping lakhs of poor people in both rural and urban areas.

Farmers:

The government is launching a programme - "Pradhan Mantri Kisan Samman Niddhi (PM-KISAN)" which will provide direct income support at the rate of Rs. 6000 per year to the farmer families having cultivable land upto 2 hectares. This is going to have a significant positive impact on the small farmers and the rural economy.

Also, it provided 2% interest subvention to the farmers pursuing the activities of animal husbandry and fisheries and 3% additional interest subvention on timely repayment of loan.

 Labour and Workers:

He came with a Mega Pension Yojana - "Pradhan Mantri Shram Yogi Mandhan" for the employees of the unorganised sector. Under PMSYM, monthly pension of Rs. 3000 is assured for the workers after the age of 60 years. This scheme, if implemented properly, is going to provide them with the reasonable standard of living.

Defence & National Security:

Implemented "One Rank One Pension" Scheme which was pending for the last 40 years and budget also proposed the highest ever allocation to Defence with RS. 3,00,000 crore.

Digital India:

India is now leading the world in consumption of mobile data. With the decrease in the prices of data, the consumption of data has increased at a very high rate.

The government proposed to make 1 lakh villages into Digital Villages over next five years which in definitely important form the point of view of the Digital India.

Taxpayers:

The budget proposed a few key changes to provide relief to taxpayers. The most important proposal is to provide full tax rebate to the individuals with income upto Rs. 5,00,000. This is going to benefit middle class taxpayers.

Another important proposal came for salaried taxpayers with standard deduction being hiked to Rs. 50,000. The budget also proposed to increase the limit of TDS on Fixed deposits from that Rs. 10,000 to Rs. 40,000.

Final Take:

The budget 2019 has come up very well. It addressed the needs of farmers and poors ensuring the improvement in the Indian economy. It recommended major changes in the Income Tax benefitting medium class taxpayers and real estate developers. The budget also came with various pension schemes for different group of people.


https://www.linkedin.com/pulse/budget-2019-sonal-nainwani?
6
Hot News - InFocus / Budget special 2019 - Govt pla...
Last post by Admin(Portal) - Feb 08, 2019, 04:29 PM
This story explains why Rs 6000 a year pension to farmer creates more problems than it solves

Years ago, a school called Bharat in a mid-sized town faced a tough situation. Many students were unable to clear the 35 % passing grade. The situation was tough. Frustrated students were under pressure from their families and the broader society - several committed suicide.

The administration of Bharat - alarmed by the situation - did a deep-dive to understand the root causes of the challenge. Here were the facts -

1.      Diversity - Bharat had a diverse student body. A few students hailed from economically rich families, majority were from the poor strata.

a.      The suicides and academic challenges were largely limited to poorer students - who found it difficult to clear the 35% threshold.

 2.      Study patterns - The rich students had access to amenities like advanced library books and took extra classes. Unburdened by chores of life, the rich students had a lot of free time to study and prepare better - leading to better results and higher pass percentages.

a.      According to officials, the poorer students weren't any less intelligent - they simply couldn't dedicate enough time to studies as they were burdened by household chores. Financial challenges eliminated their access to extra classes or advanced books in libraries leading to poor academic scores.

3.       External factors - Examinations were set up global boards that were outside Bharat administration's direct control. As such, the assessments varied in toughness from year to year - some years were more intense than others leading to a further drop in pass percentages.

a.      The only way this could be addressed was if Bharat's administration could follow its own curriculum and assessments. That needed scale and quality - Bharat didn't have that scale at global level. 

Bharat's administration realized it couldn't do much about external factors. To handle the challenges under its direct control, Bharat's offcials came up with a solution. They reduced the pass percentage from 35 to 30.

A year later, the situation hadn't improved much - complex external situation led to exams being way tougher than the prior year. Students were still frustrated and concerned parents kept calling. The authorities brought the pass percentage down further - this time, they made it 25.

The upshot? The graduation rate improved a bit, but now new challenges emerged from unexpected sources. Rich students perceived the pass percentage as low - they reduced their academic efforts and stopped using resources like library and extra classes. In fact, several of them took the system lightly and abused the resources. Parents of these kids were concerned. Meanwhile, studies showed that the overall quality of academics had nosedived. Worse, the low pass percentage hardly benefitted the poor, the real beneficiaries unwittingly were the rich kids, who neither need the benefits nor asked for it.

Alarmed authorities realized the challenge of a "one-size-fits-all" approach. With academic elections fast approaching and worried they might be voted out of power, authorities of Bharat designed a "needs-based" system - the pass percentage was resurrected to 35. However, poor students (defined on the basis of annual parental income) were given 5 grace marks (effectively bringing their pass percent to 30 vs 35 for rich kids). They also announced a targeted Rs 6000 per year incentive to these students to access libraries and take extra classes. Authorities were thrilled - they felt that this targeted handout would level the playing field.

Their hopes were dashed soon. While a few were excited, majority of the poor students felt 5 grace marks was lower than what they expected - they felt this small a number didn't justify the tough academics. Several poor students were frustrated at being treated like beggars. Meanwhile, unexpected problems arose. Rich students cried discrimination. A few rich kids resorted to manipulating their incomes to show themselves as poor - leading to distorted handouts.

While these efforts provided a quick relief balm, the root cause wasn't addressed at all. The real challenge of poor kids was the lack of access to resources like additional classes with top teachers and advanced books in libraries - this was the real reason they couldn't perform as well as rich kids. They argued Rs 6000 a year handout wasn't enough to pay for these resources. Bharat's authorities agreed addressing the root cause should be the long term vision but argued they had no time or money for such long term solutions especially in an election year. They suggested that instant remedies were required to reduce student/parent frustration - something they hoped these handouts would achieve. They further argued that this "targeted" handout was the trailer - they promised a great movie if they were voted to power.

A year later, everything remained the same except for four far- reaching changes -

1.      Years of handouts had compromised the quality of graduating students - and thereby the academic system. Outgoing students found it difficult to get jobs - the very reason why the academic system existed.

a.      The very foundation of the academic system fostered a culture of mediocrity.

2.      The handouts system focused the attention of the students away from excelling at academics - instead, everyone focused on getting higher and higher targeted handouts for their "target" group.

a.      The quality of academics - the reason why handouts started in the first place - was all but forgotten.

3.      The handouts further widened the gap between rich and kids - the rich thrived while the poor students languished without access to better facilities - the opposite of what was expected.

4.      With all the expenses to manage handouts, Bharat's finances deteriorated so much that they had very little money left to solve the issue at the root level and fulfill the big vision.

The concerned authorities soon realized that -

The movie failed to live up to the expectations of the trailer.
 I would love to hear your views on the article. Please leave your comments in the box below.

If you liked the article, pl follow me.

Raja Jamalamadaka is a TEDx and corporate speaker, entrepreneur, mentor to startup founders, winner of "Marshall Goldsmith award for coaching excellence" for being top 100 coach to senior industry executives, a board director and a member of CXO search panels. He was adjudged a LinkedIn Top Voice 2018 for being one of the platform's most insightful and engaging writers. His primary area of research is neurosciences - functioning of the brain and its links to leadership attributes like productivity, confidence, positivity, decision making and organization culture. If you liked this article, you might like some of his earlier articles here:

The importance of mentorship

How to use your brain effectively and be your creative best?

How to work 8 hours and accomplish more than 16 hours of work?

How I solved my phone addiction challenge ?

What is leadership?

How to overcome stage fear

How to be in the Right Place at the Right Time

How to use your brain effectively for success

How to stay relevant in a dynamic job market

How to sustain professional success

How to be Happy in Life

How to become an effective communicator



https://www.linkedin.com/pulse/story-explains-why-rs-6000-year-pension-farmer-more-raja-jamalamadaka
7
Colleges in India / TNJFU University - VC Speech E...
Last post by Admin(Portal) - Feb 08, 2019, 04:21 PM
TNJFU University - VC Speech English

Sorry...



TNJFU Fisheries University
Published on Jan 6, 2019
Category People & Blogs
8
Colleges in India / TNJFU - The Department of Fish...
Last post by Admin(Portal) - Feb 08, 2019, 04:15 PM
TNJFU - The Department of Fisheries university inTamil Nadu - www.tnjfu.ac.in

The Department of Fisheries was started in Tamil Nadu Agricultural University (TNAU) during 1973. The Fisheries College, Thoothukudi was established in 1977 and the first batch of students for B.F.Sc., Programme were admitted. The Fisheries College was upgraded as Fisheries College and Research Institute (FCRI) during the year 1989. The Fisheries College and Research Institute (FCRI), Thoothukudi became a constituent Institute of Tamil Nadu Veterinary and Animal Sciences University (TANUVAS) with effect from 20.09.1989. Tamil Nadu Fisheries University (TNJFU) was established on June 19, 2012 with head quarters at Nagapattinam. In due course of time, the TNJFU have gained widespread recognition as University of excellence.

Sorry...


TNJFU Fisheries University
Published on Jan 19, 2019
TNJFU University - Pon Vilaiyum Bhoomi
Category People & Blogs
9
Global Technology Updates / Jack Ma advices about first jo...
Last post by Sudhakar - Feb 02, 2019, 08:15 AM
Jack Ma advices about first job for graduate - 24 January 2019

Sorry...


SomeBall
Published on Jan 24, 2019
Jack Ma advices about first job for graduate
Category Howto & Style
10
Non IT Market Updates / #AngelTax and Why it Matters t...
Last post by Sudhakar - Dec 28, 2018, 09:22 PM
#AngelTax and Why it Matters to Startups in India

In recent days there has been a big furore in India around the Angel Tax. But, what is this Angel Tax?

Angel tax is the tax levied on funds raised by Indian start-ups through issue of shares to Indian residents. The Income Tax department has held that when these investments are made at a premium to the fair market value (FMV), the amount raised in excess to the FMV is taxable. The amount is reckoned as "income from other sources" and taxed under Section 56 (2) (viib) of the Income Tax Act, 1961. The rate of tax is 30.9 per cent. Which means that a startup could be asked to pay 30.9% of the amount of investment it has raised to grow the business!

The problem of Fair Market Value

In the context of start-ups, since the idea is at a conceptualisation or development stage, it is difficult to objectively determine the fair market value (FMV) of the shares of the start-up.

Start-ups have little/no revenues or profits and their valuation is based on the potential of the idea, the background and competence of the founding team, etc. and is usually a matter of negotiation between the founders and the angel investors.

The start-ups cannot be evaluated only on their assets, since the assets (both tangible and intangible) are built mostly by successfully executing the business idea. Nor is it easy to arrive at a 'fair value', based on discounted cash flows, since the business is subject to various market forces, including market acceptance and competition from current and emerging competitors and newer technologies over time.

The startup valuations are often subjective - a valuation, which seems high to some, may be fair to others. Also, the valuations agreed between the parties may, in hindsight, turn out to be advantageous for one party or the other, but that is inherent in the nature of risk taking by entrepreneurs and early investors. It is impossible to create a homogenous logic for such investments, be it DCF or a valuation by merchant bankers, etc.

It is also not necessary that each start-up meets the initial projections and hence valuations can come down. That, however, does not invalidate the original projections. However, in multiple instances the IT department, with the benefit of hindsight, has invalidated the original valuations, reduced 'fair market value' at the time of assessment and increased the premium amount on which the tax is to be levied.

Given the traditional ways of the IT Department in determining FMV (ignoring intangibles like goodwill, intellectual property, market potential, disruptive ideation etc.), in majority of the cases, the FMV so calculated will be lower than the value at which the capital investment is made. This results into the tax being levied under section 56 (2) (viib).

Why was Angel Tax introduced?

Angel tax was introduced as an anti-abuse provision in the 2012 Budget. It was intended to curb attempts to launder undisclosed income by resident Indians through startup investments. It was felt that given the closed nature of these deals, there was subjectivity regarding valuations and scope for acquiring shares at a premium for very little equity and using the mechanism to convert black money to white.

How is Angel Tax impacting start-ups?

Angel tax is problematic for a few reasons:

The heavy-handed approach of tax authorities in determining FMV by ignoring the dynamics of the start-up ecosystem.
Higher valuations, when raising funds, are beneficial since it means that start-ups have more funds for growth. However, if the inflows to business are reduced by heavy taxation, then business is a victim of its own success in commanding higher valuations.
Higher valuations are good for the startup's employees, since it means giving up less equity. This helps conserve equity for subsequent rounds and also ensures that enough equity is available with the founding team to keep them motivated and also to issue ESOPs to key talent. However, the benefits of higher valuation are negated when share capital or share premium is taxed.
As Section 56 (2) applies only to domestic investors, it discriminates against them as compared to foreign investors, who are not subject to this clause. This adversely impacts the creation of a robust Indian start-up ecosystem, where successful domestic entrepreneurs can fund and support upcoming start-ups. This is how Silicon Valley in the US was built - one wave of successful businesses funding and mentoring the next wave of ideas and companies.
The recent wave of coercive action

In the past few weeks, hundreds of start-ups have received notices from IT authorities asking them to pay taxes on the angel funding raised by them. Some of them have also been slapped with penalties on the tax not paid. In some cases the tax-cum-penalty amount is nearly 50% of the capital raised.

Many start-ups feel that they would rather shut down than face the simultaneous harassment of explaining valuations and also struggling to keep their businesses afloat, knowing that payment of such taxes will definitely kill the business by starving it of funds.

Besides IT Department, MCA has also sent notices to over 2,000 startups that have raised investment in the last five years. It has given a 45 days deadline ending shortly in the January 2019.

Exemption to Sec 56 (2): A Partial Solution

The government in an attempt to grant exemption from the provisions of Sec 56(2) to genuine investors has laid down criteria to recognise start-ups. The qualifying criteria for angel tax exemption are however very tedious and it is beyond the capacity of most start- ups to devote so much time and energy to secure such exemptions.

While applying for exemption from angel tax provisions, the startups must meet the below criteria:

The aggregate amount of paid-up share capital and share premium of the start-up after the proposed issue of shares should not exceed INR 10 Cr.
The revenue of the start-up shall be less than Rs 25 Cr.
The angel investor or proposed investor should have a minimum net worth of Rs 2 Cr and an average annual income of Rs 25 Lakhs or more in the preceding 3 years as per IT Returns.
The startup shall obtained a report from a merchant banker specifying the fair market value of shares in accordance with Rule 11UA of the Income-tax Rules, 1962.
An Inter-Ministerial Board shall then review such cases before deciding to grant exemption.
Even if certain startups fulfil the criteria, it has been difficult for startups to get approval from the Inter Ministerial Board (IMB) due discretionary provisions and delays in cases being listed before the IMB.

What can be potential solutions?

Angel tax provisions should be abolished. The mis-deeds of a handful of black sheep has tarred all investors with the same brush and is leading to a sharp drop in funding options for start-ups. This runs contrary to government's various attempts to promote start-ups, which are an important source of growth and employment creation.

In case the issue of angel tax needs further study, the following solutions may be implemented as an immediate measure:

Issue 1: Fair Market Value (Section 56(2):

Start-ups, which are asset light in the beginning, raise capital on the basis of forward looking projections. These projections are being questioned by the IT Department, which disregards the entire basis of valuation in practice and looks at applying only the net book value method. This will render the valuation of almost all the startups in the country as negative.

Proposed Solution: As a default provision, Assessing Officers (AOs) to accept the valuation principles / calculations submitted by start-ups. Exceptions should be made and queries flagged only if there is concern with regard to the bona fide of the angel investors.

Issue 2: Disallowance of Investment (Section 68):

A lot of startups have been asked to produce evidence of creditworthiness of investors- including audited statements, Bank statements and ITR details. Ideally complying with legal PAN tagged transaction is what startups can do and beyond that onus should be on the IT department and not start-ups. Upon failure to produce these documents, the IT department has the authority to convert this entire investment as taxable income.

Proposed Solution: Asking start-ups to furnish the ITR's of investors will only kill the investor interest. Instead AOs should insist on PAN number and AO's to do a separate investigation for source of fund if required directly.

Issue 3: IMB certification for Angel investment

DIPP's notification of April 2018 expects startups to seek an IMB certification after taking a mercantile banker valuation and investor ITR's before raising angel investment. This long process is slowing down the angel activity.

Proposed Solution: IMB prior to raising fund is impractical; instead the US model of "accredited investors" may be adopted to tackle this.

In Summary:

Angel investors in countries such as US are offered tax benefits when they fund small companies. They are also ways for angel investors to save tax by re-investing gains from one investment into another entrepreneurial venture.

But in India, we are stifling the start-up ecosystem by making it difficult for enterprises to receive funding in the initial years. Investors, who are willing to risk their capital, are also treated with suspicion. The angel investor ecosystem being vibrant is critical to the development of the startup economy. Else we will have a small number of companies that are lucky to get an angel investment who will get a disproportionate share of venture capital investments. But large-scale technological innovations will happen when the startup ecosystem is broad based and for that we need an angel investor ecosystem that is equally broad based.

Ideally, angel tax provisions should be abolished. At the very least, the exemption from the provisions should be automatic and system driven than complex and discretionary. There is no rationale for the IT department asking start-ups to pay tax on the amount they raise 2-3 years back irrespective of whether they made profits or not.

Taxing profit on the capital invested by investors, or the profits of the company is fair but taxing the capital raised is doesn't seem logical. Whether it is share capital or share premium that is raised by the company, it is still capital received. It should not be treated as 'revenue income.

Practically speaking, valuation is a free market agreement and Income Tax should only be levied on realised gain and not notional gain. Only when an investment works out and yields a profit, should the parties making a profit be taxed on the gains.

However, the chilling effect the #AngelTax can have on the investment sentiment is not adequately appreciated. Capital and talent are very mobile - they can easily re-locate to more hospitable and rational destinations like Singapore. That would run contrary to all significant and commendable attempts of the Government of India in promoting Ease of Doing Business, Start-up India and Digital India.


Source : https://www.linkedin.com/pulse/angeltax-why-matters-startups-india-kunal-bahl/
Pages: [1] 2 3 ... 10
IT Acumens | GinGly :: SMS Backup | Acumen :: Discussion Board | AshokPillar :: Hosting | CineBuzz :: Latest Cinema News | My Kids Diary :: Capture your kids magical moment
Copyright ฉ 2005 - 2017 :: IT Acumens :: All Rights Reserved.
ITAcumens Forum with 2 lakhs post running for 10 years - Powered by HostGator Dedicated Server