How many think Budget 2012 is a Startup-Unfriendly Budget?

lakhanivikram

New member
"How many think Budget 2012 is a Startup-Unfriendly Budget?"

It is proposed to insert a new clause in section 56(2). The new clause will apply where a company, not being a company in which the public are substantially interested, receives, in any previous year, from any person being a resident, any consideration for issue of shares. In such a case if the consideration received for issue of shares exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares shall be chargeable to income tax under the head “Income from other sources.” However, this provision shall not apply where the consideration for issue of shares is received by a venture capital undertaking from a venture capital company or a venture capital fund.
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A Startup-Unfriendly Budget? [Budget India 2012]

What do you think? Is it a good move or a bad move by the finance minister?
 

winner@1

Par 100 posts (V.I.P)
hii vikram i have not understood this clause but one thing is been good step taken by the FM THAT TAX WILL BE CUT AFTER EARNING OF 5 LKH IT WILL HELP YOUTH .AS ITS STARTING STAGE OF THEIR CAREER for us it will benificial .
 
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