Competition and Industry News
Taxing for start-upsedit
A new provision of the Income Tax Act was introduced in the 2012 Union Budget to tax untenable tax premiums over and above the fair market value which was widely used as a method of circulating unaccounted money. The provision, popularly referred to as ‘Angel Tax’, prescribes valuation methodology for determining the FMV of shares issued.
Publication: The Hindu Business Line
Date: November 29, 2019
Angel taxIkea to invest €200 million in green initiativesedit
IKEA Group will invest €200 million to speed up its journey to become a climate-positive business by 2030. The investment will go into bringing IKEA’s supply chain under renewable energy. The funds will also go into reforestation, restoration (of degraded forests) and better forest management practices, as per a company release. The first portfolio would support the ambition to use 100% renewable energy (electricity, heating, cooling, and other fuels) in production, it said.
Publication: The Hindu
Date: November 28, 2019
green initiativesIKEArenewable energyIKEA brings its first physical presence ‘IKEA On Wheels’ to Mumbaiedit
Swedish home furnishing retailer IKEA on Tuesday launched two trucks in Mumbai in a bid to offer concepts to customers based on affordability, accessibility and sustainability. Called IKEA On Wheels, it is a mobile truck with functional and furnished rooms to enable customers to see IKEA products and solutions up close. This marks IKEA India’s first physical presence in Mumbai.
Publication: The Hindu BusinessLine
Date: November 27, 2019
IKEAMumbai