50 years ago , a student who failed an engineering exam , was
allowed to attend lectures of the next higher term , on certain conditions
This arrangement was called : ATKT
I don’t know whether this practice still exists !
Any way , I
am happy with the following news report ( Business Line / 08 May 2017 ) :
“ No more rejection for start-ups seeking tax
sops “
In what could be a morale booster for start-ups, the government has decided to do away with the practice of rejecting applications for tax sops.
Instead, start-ups will get an opportunity to apply again after making changes to
the proposal based on the explanation given to them on the initial one.
The Department of Industrial Policy and Promotion is also re-working the
qualification criteria for start-ups for non-tax benefits, a government
official told BusinessLine.
“Instead of dismissing proposals that do not meet the mark for tax-sops
with a simple ‘rejected’, the inter-ministerial group examining it will give
details of where they fell short.
This will give the start-ups an opportunity to re-work their
proposals, and apply again for tax benefits,” the official said.
“ There has been no change in the criteria of judging
whether a start-up qualifies for tax benefits. It still depends on how innovative the idea is.”
The change in
the Central government’s stance has been triggered by a general sense of
dissatisfaction among start-ups with the new policy, as only about 10 proposals had qualified for tax sops
till last month out of the 140 proposals vetted by the inter-ministerial
group since the policy was announced last year.
“The DIPP has decided to be a bit
more empathetic while dealing with start-ups. After all, what good are tax sops
if very few are able to benefit from it,” the official said.
The 130 applicants for tax apps, who were rejected over the past year,
will also get a detailed note on why
their cases did not pass the test.
The DIPP will come
up with a new set of rules over the next few weeks, tweaking the definition of a start-up that will result in more companies and LLPs coming
under in the category.
-----------------------------------------------------------
WHY
THIS “ CHANGE OF HEART “ ?
My following blogs ( earlier
sent as Email to DIPP ) , will explain :
·
StartUp Re-defined ( 20 Jan
2016 )
--------------------------------------------------------------------------------------------------
·
InWonderland of Start-Ups ( 21
July 2016 )
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·
A Booster Shot ? (
04 Sept 2016 )
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·
“Slow and Steady “ loses the Race ( 06 March
2017 )
---------------------------------
------------------------------------------------------------------
·
Are We really Serious ? ( 14
March 2017 )
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·
Spirit of Israel ( 16
Feb 2017 )
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09 May 2017
www.hemenparekh.in
/ blogs
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