TiE Delhi-NCR News Feed | March 22nd 2018
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.

Paytm, the country’s largest digital payments company, is trying to enter the lending space and is seeking a licence from RBI to become a peer-to-peer lending platform.
Read more on: ET Rise
Tech firm IBM on Wednesday announced the launch of three new consulting services and the IBM blockchain platform starter plan — an inaugural low-cost plan for startups, developers and other clients.
Read more on: ET Tech

Ola drivers call off three-day strike in Mumbai, while Uber’s continue to protest – Hindustan times – In a partial relief to commuters, drivers of Ola, an app-based taxi aggregator, called off their three-day strike on Wednesday, while Uber drivers will continue to protest. Maharashtra Navnirman Vahatuk Sena (MNVS), transport wing of the Maharashtra Navnirman Sena (MNS), called off the strike after an assurance from the Ola management.

Zivame sees turnaround with Rs 40 crore offline push – ET Rise – In a bid to reclaim lost ground, lingerie retailer Zivame is betting on an omni-channel strategy to helm its turnaround. With 26 brand stores established over the last 12-18 months, Zivame is set to take that count to 100 stores by FY19-end and has set aside an investment of Rs 30-40 crore for the same.

Amazon India reportedly closing in on Flipkart – ET Rise – Amazon has almost closed the gap with Flipkart’s standalone sales in 2017, behind in GMV marketshare by less than 1percentage point in 2017 from 5 percentage points in 2016, as per Forrester. However, Flipkart still leads as a group with Myntra and Jabong. While Flipkart leads in fashion and smartphones, Amazon has taken lead in categories such as appliances, consumer electronics, and more importantly, groceries, which builds platform stickiness, said Satish Meena, a senior forecast analyst at Forrester.

Become a Member or Renew Membership
Copyright © 2016 TiE Delhi-NCR, All rights reserved.
This newsletter is a daily Funding/Investor/Startup News spotter that highlights the most recent stories and news from Delhi, India. We’re always on the lookout for more interesting news and insights, so feel free to share any you might have.