No More Angel Tax! Investors Win the Tug of War. 4 Things to Know Stay tuned to get every day updates in 60 seconds.
By Aashika Jain
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1. Here comes a big relief for angel investors in the country! After a lot of debate on Angel Tax, the Central Board of Direct Taxes has finally decided to exempt angel investors from taxes for investments over the fair valuation. However, the paid up capital and the share premium of the beneficiary start-up cannot exceed Rs10 crores.
2. Amidst all the news about Indian startups making a roadway into China and vice versa, There's a big boost for more business opportunities between the two counties. India has officially launched its second IT corridor in China, which will look into innovation in Artificial Intelligence (AI) and Big Data.
3. From Elon Musk to basically everyone else in the world, questions have often risen about how automation will take away people's jobs. However, Microsoft CEO Satya Nadella believes otherwise. Nadella in a recent interview said that even in a "runaway Artificial Intelligence (AI)" scenario, robots will not render people completely jobless.
4. If you are someone who is fascinated whenever you see a swanky new Mercedes Benz on the road, here's some news for you! 24 years after its launch in India, Mercedes Benz has officially announced the roll out of its 1,00,000th car in India.
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