Startup Tax Considerations in India
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This document discusses the various ways that chartered accountants (CAs) can help startups at different stages. It outlines the tax and regulatory considerations for setting up an entity, ongoing compliance requirements, and transaction taxes related to exits or expansions. CAs can assist startups with setting up the appropriate legal structure, completing registrations and filings, ongoing tax payments and audits, and tax consultancy for funding rounds, exits, mergers, and acquisitions. The current startup environment provides opportunities for CAs to offer flexible, dynamic business advisory and non-traditional engagement services.
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Startup Tax Considerations in India
- 1. tax startup business methodology ideatefix growth company develop adapt think leader consumer change agile agile service taxPAN TAN india india india advance tax investor investor return teams tax funding capital capital gift tax teams tds excise buy tax sell innovate ideate funding venture capital profits seedfund ideate exit markets audit merge integrate llp sell Buyout finance return equity learn make in india Withholding tax ipo Rajkot, 23 October 2015 llp entrepreur capital
- 2. Start ups in India 23#October#2015,#Rajkot For#discussion#purposes#only START UP * a (temporary) organisation designed to search for a repeatable & scalable business model * * *
- 3. What can CAs help with 23#October#2015,#Rajkot For#discussion#purposes#only START UP * Financial Legal Regulatory Taxation * * *
- 4. 23#October#2013,#Rajkot For#discussion#purposes#only Overview of tax considerations Early stage Set up On going On sale/ exit/ expansion Legal entity setup – Pvt Co vs LLP vs partnership firm Statutory compliances Ongoing compliances Transaction taxes 23#October#2015,#Rajkot For#discussion#purposes#only
- 5. Early stage Legal entity setup – Pvt Co vs LLP vs partnership firm PARAMETER PVT LTD CO LLP FIRM Registration Required Required Optional Distinct entity Yes Yes No Formation cost Min incorporation fee Pvt Co – Rs 6k Public Co – Rs 19k Min cost of formation Rs 800 Negligible Time line ~ 10 days ~ 10days 7 days 23#October#2015,#Rajkot For#discussion#purposes#only nature of business (industry regulations) short to mid term horizon source of funds
- 6. Set up Statutory compliances PAN, TAN applications service tax, excise, VAT registrations shops & establishments,IEC etc statutory auditors 23#October#2015,#Rajkot For#discussion#purposes#only
- 7. On going Ongoing compliances 23#October#2015,#Rajkot For#discussion#purposes#only taxes deducted at source – payments, filings, consultancy advance tax – quarterly payments, filing tax audits, return filing tax consultancy on specific agreements/ assignments
- 8. On sale/ exit/ expansion Transaction taxes 23#October#2015,#Rajkot For#discussion#purposes#only capital gains on sale of shares to investors exit by investors via share sale & IPO mergers, demergers, acquisitions,buyouts tax consultancy on specific agreements/ assignments
- 9. 23#October#2015,#Rajkot For#discussion#purposes#only Need to recognise opportunities available for CAs in the current startup environment business advisory compliances funding intermediaries non traditional engagements that are flexible and dynamic