|Panel certificate next hurdle for startups to get Angel Tax break
– ET Rise – Startups seeking exemption from the so-called angel tax are discovering they may also need to be certified by an inter-ministerial board to be eligible for tax relief. The Central Board of Direct Taxes in June 2016 had assured that companies certified as startups by the Department of Industrial Policy and Promotion would not be taxed on investments raised at a premium to their fair value. In February, CBDT asserted that coercive action would not be taken against DIPP-certified startups and authorities would dispose all tax-related appeals by such startups by March 31.
Google to work on blockchain-related technology – Live Mint – Google is working on blockchain-related technology to support its cloud business and head off competition from emerging start-ups that use the heavily-hyped technology to operate online in new ways, according to people familiar with the situation. Companies use blockchain and other so-called digital ledgers to securely record transactions and process other data over the internet—a service Google could use, for example, to reassure customers that their information is protected when stored on the giant network of computer servers that power its cloud services.