The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.

In a strategic move to enhance India’s startup ecosystem, Finance Minister Nirmala Sitharaman announced the abolition of the angel tax on July 23, 2024.

Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, imposed a tax on premiums paid by investors above the fair market value of shares in…

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Global Microsoft Outage Hits Banks, Airlines, and Broadcasters

A global Microsoft outage affected users across various sectors, including banks, airlines, and media broadcasters, on Friday.

A global Microsoft outage affected users across various sectors, including banks, airlines, and media broadcasters, on Friday. The disruption, occurring just hours after Microsoft began addressing an issue with its Microsoft 365 apps and services, led to widespread reports of service failures. Despite Microsoft’s updates suggesting improvements, outages continued globally. In Australia, major banks, airlines,…

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Top 10 Technology Startups in India

Top 10 Technology Startups in India

Discover the top 10 technology startups revolutionizing India’s business landscape. Explore innovative solutions, disruptive technologies, and success stories driving India’s startup ecosystem forward. India has emerged as a vibrant hub for technology startups, showcasing innovation and disruption across various sectors. From e-commerce to fintech, healthcare to agritech, these startups are reshaping industries and pushing boundaries….

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Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024.

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024.

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024. This move follows the recent launch of Ola Maps by ride-hailing giant Ola, which offers competitive pricing and billing in Indian rupees. Ola’s transition to its own mapping solution is…

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WazirX Faces Security Breach After Suspicious $230 Million Transfer WazirX Faces Security Breach After Suspicious $230 Million Transfer

WazirX Faces Security Breach After Suspicious $230 Million Transfer

Indian cryptocurrency exchange WazirX suffered a security breach on Thursday, resulting in the temporary suspension of all withdrawals. The breach involved the transfer of approximately $230 million from one of WazirX’s multisig wallets to an unknown address. Web3 security firm Cyvers reported the suspicious activity, leading WazirX to confirm the breach and pause withdrawals to…

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AstroTalk Secures ₹78.3 Crore in Series A Extension from Left Lane Capital and Elev8 Capital

AstroTalk Secures ₹78.3 Crore in Series A Extension from Left Lane Capital and Elev8 Capital

Summary: AstroTalk, an online astrology platform, raised ₹78.3 crore in a Series A funding extension from Left Lane Capital and Elev8 Capital. Founded in 2017 by Puneet Gupta and Anmol Jain, AstroTalk connects users with astrologers and other experts via the internet, phone, and chat. The platform boasts 13,000 practitioners and generates 90% of its revenue from…

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Mumbai-based EleFant, a mobile app-centric toy library, garnered Rs 6 crore ($750K) in seed funding, co-led by Venture Catalysts and Malpani Ventures.

Mumbai-based EleFant, a mobile app-centric toy library, garnered Rs 6 crore ($750K) in seed funding, co-led by Venture Catalysts and Malpani Ventures.

Key Points Seed Funding Success: EleFant, a Mumbai-based mobile app-based toy library, secured Rs 6 crore in seed funding co-led by Venture Catalysts and Malpani Ventures. Founding Vision: Founded in 2023 by Sourabh Jain, EleFant aims to transform how Indian families engage with toys and play, offering a diverse selection of toys and books for…

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Top 10 Hotel Chain Brands in India

Top 10 Hotel Chain Brands in India

Hotel chain brands are groups of hotels that operate under the same brand name and often share common standards of service, amenities, and design across multiple locations. These chains are typically managed by a central corporate entity or parent company, which oversees branding, marketing, and operational standards to ensure consistency and quality across all properties….

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Top 10 Circular Economy Startups in India

Top 10 Circular Economy Startups in India

The concept of a circular economy has gained significant traction globally, offering a sustainable alternative to the traditional linear economy. In India, a burgeoning ecosystem of startups is leading the way in implementing circular economy principles, focusing on reducing waste, reusing materials, and recycling products to create a closed-loop system. Here are the top 10 circular…

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CheQ Raises $6.7 Million in Extended Seed Round to Fuel Innovation and Market Expansion https://entrepreneurtales.in/

CheQ Raises $6.7 Million in Extended Seed Round to Fuel Innovation and Market Expansion

In a significant boost to the Bengaluru-based fintech startup CheQ, the company has successfully raised $6.7 million in an extended seed fundraise. This recent influx of capital brings the total raised during its seed round to $10.2 million. The funding round saw participation from notable investors including Lloyd Dizon, Zenaida Dizon Balajadia, and Sherpalo LLC,…

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