Anchorage Infrastructure Investment Holding’s FDI request of Rs 15,000 crore has been approved by the CCEA.

Anchorage Infrastructure Investment Holding’s FDI request of Rs 15,000 crore has been approved by the CCEA.

The government approved a Rs 15,000-crore foreign direct investment (FDI) application for infrastructure investment from Anchorage Infrastructure Investment Holding Ltd, a subsidiary of a Canadian pension fund. The FDI proposal was accepted by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, for investment in infrastructure and construction-development industries.

Transport and logistics, as well as downstream investment in the airport sector and aviation-related industries and services, may be among them.

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According to an official statement, the transaction also comprises the transfer of a stake of Bangalore International Airport Limited to Anchorage and a Rs 950 crore investment by the 2726247 Ontariao Inc in Anchorage Infrastructure Investment Holding Ltd.

OAC is the administrator of OMERS, one of Canada’s largest defined benefit pension plans, and 2726247 Ontariao Inc is a wholly-owned subsidiary of OAC.

Tax Benefits Available For Startups 

The investment will provide a significant boost to the infrastructure and building industries, as well as the airport industry. It will bolster the Indian government’s ambition to construct world-class airports and transportation infrastructure through private partnerships, according to the statement.

The investment will also provide a major boost to the recently announced National Monetisation Pipeline, according to the announcement (NMP). It will assist support the leasing of state-owned infrastructure assets to private operators, which includes assets such as highways, trains, airports, sports stadiums, power transmission lines, and gas pipelines.

Anchorage Infrastructure Investment Holding Ltd proposes to invest downstream in some of the NMP-affected sectors.


The investment will also result in direct job creation, according to the statement, because the sector in which Anchorage Infrastructure Investment Holding Ltd proposes to make downstream investments is capital- and employment-intensive.

The investment will also create indirect jobs in the construction and related industries, according to the statement.

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Tax Benefits Available For Startups

Tax Benefits Available For Startups

All tax benefits are available to the startups only if they come under the criteria of an ‘Eligible Startup’.

So let’s try to understand the conditions to be met to qualify as an ‘Eligible Startup’.

Eligibility Criteria for Startup Recognition:

  • The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership.
  • Turnover should be less than INR 100 Crores in any of the previous financial years since incorporation.
  • An entity shall be considered as a startup up to 10 years from the date of its incorporation.
  •  
  • The Startup should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth.
  • An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”

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Tax benefits allowed to Eligible Startups :

80 IAC Tax exemption

An Eligible startup (incorporated between 1 April 2016 to 31 March 2022) can avail a deduction of 100% of profits for a block of 3 years in the first 7 years of its incorporation. Such deduction would be available upon filing an application with DPIIT provided that that annual turnover does not exceed Rs.25 crores in any financial year.

Waiver from ‘Angel tax’ 

Domestic companies are required to issue their shares at fair market value (FMV) determined on a net assets value basis or discounted cash flow basis determined by the merchant banker. Any amount received by the company from residents in India in excess of FMV is liable to tax in the hands of the company (popularly known as ‘Angel tax’). Upon filing the requisite declaration with DPIIT and subject to certain conditions, Eligible startups are exempted from Angel tax.

Tax exemption to Individual/HUF on investment of long-term capital gain in equity shares of Eligible Startups u/s 54GB. 

The startups shall also use the amount invested to purchase assets and should not transfer assets purchased within 5 years from the date of its purchase.

1. Thus, if an individual or HUF sells a residential property and invests the capital gains to subscribe the 50% or more equity shares of the eligible startups, then tax on long term capital will be exempt provided that such shares are not sold or transferred within 5 years from the date of its acquisition.

2. The existing provisions u/s 54GB allows the exemption from tax on long-term capital gains on the sale of a residential property if such gains are invested in the small or medium enterprises as defined under the Micro, Small and Medium Enterprises Act, 2006. But now this section has been amended to include exemption on capital gains invested in eligible start-ups also.

What is e-RUPI and how it works?

Exemption from tax on Long-term capital gains

A new section 54 EE has been inserted in the Income Tax Act for the eligible startups to exempt their tax on a long-term capital gain if such a long-term capital gain or a part thereof is invested in a fund notified by the Central Government within a period of six months from the date of transfer of the asset.

The maximum amount that can be invested in the long-term specified asset is Rs 50 lakh. Such amount shall be remain invested in the specified fund for a period of 3 years. If withdrawn before 3 years, then the exemption will be revoked in the year in which money is withdrawn.

Other benefits available for Startups :

  • Simple process for registration of startup
  • Self-certification of compliance under Environment and Labour laws.
  • Easy access to funds through Alternate Investment Funds.
  • Easy winding up of Company within 90 days under Insolvency & Bankruptcy Code,2016.
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Income Tax Return Filing

AY 2018-19 Income Tax Return Filing | Which ITR Form should you file?

The Central Board of Direct Taxes has notified the new RTI forms for the AY 2018-19 Income Tax Return (for the 2017-18 fiscal year). To facilitate the filing of inquiries, some sections of the forms have been streamlined.

The new form of ITR in PDF format is made available, while Excel (or) Java Utilities for IS 2018-19 will be available soon on the income tax India e-filing website.

What is Assessment Year (AY) & Financial Year (FY)?

The fiscal year (FY) is the year you earned the income. If you file a return this year, the fiscal year will be 2017-18. For example, if you had an income between April 1, 2017, and March 31, 2018, then 2017-18 will be designated by AF. The assessment year (YY) is the year in which you file returns, that is, 2018-19. The last filing date for the 2017-2018 fiscal year is July 31, 2018 (as of now).

Income Tax Slab Rates for FY 2017-18

The income tax slabs & rates are categorized as below:

  • An individual resident under the age of 60 Years.
  • Senior Citizen (an Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year).
  • Super Senior Citizen (an Individual resident aged 80 years or more at any time in the past year).

Income Tax Return Filing

New ITR 1 (Sahaj) Form For Year Analysis 2018-19

Direct Tax Central Board (CBDT) has filed a Form of Tax Return Form (Form ITR) for Assessment Year 2018-19. For the Year of Assessment 2017-18, a single page simplified by ITR Form-1 (Sahaj) was notified. This initiative benefits from the 3 crore taxpayers, who have submitted back to their respective Forms. For the Year of Assessment 2018-19 also, one page simplified ITR Form-1 (Sahaj) has been notified.

  • This form can be used if you have;
    • Salary or Pension Income
    • Income from a home owner’s property (excluding cases where loss has been lost from previous years)
    • No business income / no Capital gains
    • No asset in a foreign country or no income from a source outside India
    • Agricultural  income which is less than Rs 5,000
    • Income from other sources like FD/Shares/NSC etc.,
    • No income from lottery or horse racing.TR Form-1 (Sahaj) may be filed by an individual resident other than an unusual resident, earning up to Rs 50 lakh and receiving income from salary, home property / other income (interest etc.).
  • Additionally, home-related salary and property components have been rationalized and provide basic salary details (such as those available in Form 16) and income from home property has been reimbursed command.

  • Click here to download a new ITR 1 Form for IS 2018-19.
  • Please note that NRIs can not file form ITR-1 from IS 2018-19 until the beginning.

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