Direct Taxes for Startups @ IIM

I was rather surprised at the rather the simplicity by which the session took place. Although I would say that it was not lesser than a crash course into understanding Direct Taxes but really an idea opener.

Like consider the idea of crowd sourcing funds for your startups, wherein the money invested by each person is very low but with the right number, one can generate enough funds to work around the whole gestation period. In thought, it sounds very great but as Prof Sridhar puts it forward, quite straight on the face that the idea in principal is of banking and hence, it will require licensees of the same nature by the RBI and SEBI before you jump into it. What you are intending to do in crowding sourcing funds, is nothing less than taking money from people and using it to pay them 'interest' or 'dividends'.

His quick advises on financials for any startups were a super relievers, I have no words to explain the relief I have to know that I attended the session, the multiple number of traps and compliance issues that could potentially now can be avoided. Like he said, we don't really needed to be an expert to know our way around things, we just need to know enough.

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