Section 264 Revision Application under the Income Tax Act of India

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Uttarayan

May 19, 2025

10:32 am

1. Extract of the Income Tax Act of India for Section 264

Section 264 of the Income Tax Act, 1961, empowers the Commissioner of Income Tax (CIT) to revise any order passed by a subordinate authority. This revisionary power can be exercised by the CIT either suo motu (on their own motion) or on an application made by the taxpayer.

Section 264(1): The Commissioner may, either on their own motion or on an application by the assessee, call for the record of any proceeding under this Act in which any order has been passed by any authority subordinate to them and may make such inquiry or cause such inquiry to be made and, subject to the provisions of this Act, may pass such order thereon, not being an order prejudicial to the assessee, as the Commissioner thinks fit.
Section 264(2): The Commissioner shall not revise any order under this section in the following cases:
- Where an appeal against the order lies to the Commissioner (Appeals) or the Appellate Tribunal but has not been made and the time within which such appeal may be made has not expired, or in the case of an appeal to the Commissioner (Appeals) or the Appellate Tribunal, the assessee has not waived their right of appeal.
- Where the order has been made the subject of an appeal to the Commissioner (Appeals) or the Appellate Tribunal.
Section 264(3): An application for revision under this section shall be made within one year from the date the order in question was communicated to the assessee or the date on which they otherwise came to know of it, whichever is earlier.
Section 264(4): The Commissioner may, on an application by the assessee for revision under this section, make such inquiry or cause such inquiry to be made and, subject to the provisions of this Act, may pass such order thereon, not being an order prejudicial to the assessee, as the Commissioner thinks fit.
Section 264(5): Every application by an assessee for revision under this section shall be accompanied by a fee of twenty-five rupees.

2. Purpose and Objective of Section 264

The primary objective of Section 264 is to provide an opportunity for taxpayers to seek relief from any order passed by a subordinate authority that they believe to be unjust or erroneous. This provision aims to ensure taxpayers have a recourse mechanism to correct mistakes or injustices without resorting to lengthy and expensive litigation processes. It also empowers the Commissioner to rectify errors and ensure fair treatment of taxpayers.

3. Proper Reasoning

When applying for a revision under Section 264, it is crucial to present a well-reasoned application. The following points should be considered:

Clarity and Precision: Clearly state the specific order being contested and the grounds for the revision.
Evidence and Documentation: Provide all relevant documents, evidence, and details that support the claim that the order in question is incorrect or unjust.
Legal Grounds: Cite relevant sections of the Income Tax Act and other applicable laws to substantiate the claim for revision.
Timeliness: Ensure the application is filed within the stipulated time frame of one year from the date of the order or the date the assessee became aware of it.

4. Legal Recourse and Legal Proceedings

If an assessee is aggrieved by an order passed by a subordinate authority, they can seek revision under Section 264 by following these steps:

Filing the Application: The application must be filed within one year from the date the order was communicated or came to the assessee’s knowledge. A fee of twenty-five rupees should accompany it.
Submission of Documents: All supporting documents and evidence must be submitted along with the application.
Inquiry by Commissioner: The Commissioner may conduct an inquiry or direct a subordinate authority to do so to verify the facts presented in the application.
Order by Commissioner: After considering the application and the inquiry report, the Commissioner may pass an order that is not prejudicial to the assessee.

5. Do’s and Don’ts

Do’s:

Ensure timely filing of the revision application.
Clearly state the grounds for seeking revision.
Provide all necessary documents and evidence.
Seek professional advice if needed to strengthen the application.

Don’ts:

Do not apply if an appeal is pending before the Commissioner (Appeals) or the Appellate Tribunal.
Avoid presenting vague or unsubstantiated claims.
Do not miss the one-year deadline for applying.

6. Example of a Section 264 Revision Application under the Income Tax Act of India

Subject: Application for Revision under Section 264 of the Income Tax Act, 1961 To: The Commissioner of Income Tax, [Name of the City], [Address of the CIT Office] Date: [Date of Application] From: [Name of the Assessee] [Address of the Assessee] [Permanent Account Number (PAN)] [Email Address] [Contact Number] Ref: Assessment Year: [Year] Order Date: [Date of the Order] Order Passed by: [Name and Designation of the Assessing Officer]

Application for Revision of Assessment Order under Section 264

Respected Sir/Madam, I, [Name of the Assessee], respectfully submit this application under Section 264 of the Income Tax Act, 1961, seeking revision of the assessment order dated [Date] passed by [Name and Designation of the Assessing Officer] for the assessment year [Year]. The order was communicated to me on [Date]. Grounds for Revision:

Incorrect Computation of Income: The Assessing Officer has incorrectly computed my total income by disallowing certain genuine business expenses amounting to INR [Amount]. These expenses were incurred wholly and exclusively for my business, and the necessary supporting documents were provided during the assessment proceedings.
Disallowance of Depreciation: The Assessing Officer has disallowed INR [Amount] depreciation on [Asset Description]. The asset in question was duly put to use for business purposes during the relevant previous year, and the depreciation claim was made in accordance with the provisions of the Income Tax Act.
Incorrect Addition of Income: INR [Amount] was added to my income on account of unexplained cash deposits. These deposits were duly explained during the assessment proceedings as receipts from my business operations, supported by relevant documentary evidence.

Facts and Circumstances:

Business Expenses: During the assessment proceedings, I provided detailed explanations and documentary evidence for the business expenses incurred. Despite this, the Assessing Officer disallowed these expenses without giving any valid reasons. Attached herewith are copies of the invoices, payment receipts, and a detailed explanation of the expenses (Annexure A).
Depreciation Claim: The asset for which depreciation has been disallowed was acquired and put to use in the relevant previous year. The disallowance was made without considering the factual details and the applicable provisions of the Income Tax Act. Enclosed herewith is a copy of the invoice and proof of usage of the asset (Annexure B).
Cash Deposits: The cash deposits were duly explained as business receipts, supported by sales invoices and receipts. The Assessing Officer’s addition of this amount as unexplained income is unjustified. Attached herewith are copies of the sales invoices and bank statements (Annexure C).

Prayer:

In view of the above grounds and the supporting documents, I humbly request you to kindly revise the assessment order dated [Date] for the assessment year [Year] under the provisions of Section 264 of the Income Tax Act, 1961. I pray for the following reliefs:

Allowance of the disallowed business expenses amounting to INR [Amount].
Allowance of the INR [Amount] depreciation claim on [Asset Description].
Deletion of the addition of INR [Amount] on account of unexplained cash deposits.

I affirm that no appeal against the said order is pending before the Commissioner (Appeals) or the Income Tax Appellate Tribunal, and I have not waived my right of appeal. I appreciate your consideration. Yours sincerely, [Name of the Assessee] [Signature]

Enclosures:

Copy of the assessment order dated [Date]
Annexure A: Details and supporting documents for business expenses
Annexure B: Details and supporting documents for depreciation claim
Annexure C: Details and supporting documents for cash deposits
Proof of filing fee payment of INR 25

7. Conclusion

Section 264 of the Income Tax Act of 1961 serves as a vital mechanism for taxpayers to seek redressal against erroneous or unjust orders passed by subordinate authorities. By understanding the provisions, objectives, and proper procedures associated with Section 264, taxpayers can effectively utilise this tool to ensure fair and just treatment under the law. Proper reasoning, timely action, and adherence to legal requirements are critical to successfully navigating the revision process under this section.

Tagged Buisness, Funding, Tax, TDS

Section 264 Revision Order by CIT under the Income Tax Act of India

Uttarayan

10:24 am

1. Extract of the Income Tax Act of India – Section 264

Section 264 of the Income Tax Act, 1961 grants the Commissioner of Income Tax (CIT) the authority to revise any order passed by a subordinate authority. This power can be exercised by the CIT either suo motu (on their initiative) or upon an application made by the taxpayer.

Section 264(1)

The Commissioner may, either on their motion or on an application by the assessee, call for the record of any proceeding under this Act in which any order has been passed by any authority subordinate to them, and may make such inquiry or cause such inquiry to be made and, subject to the provisions of this Act, may pass such order thereon, not being an order prejudicial to the assessee, as the Commissioner thinks fit.

Section 264(2)

The Commissioner shall not revise any order under this section in the following cases:

Where an appeal against the order lies to the Commissioner (Appeals) or the Appellate Tribunal but has not been made and the time within which such appeal may be made has not expired, or in the case of an appeal to the Commissioner (Appeals) or the Appellate Tribunal, the assessee has not waived their right of appeal.
Where the order has been made the subject of an appeal to the Commissioner (Appeals) or the Appellate Tribunal.

Section 264(3)

An application for revision under this section shall be made within one year from the date on which the order in question was communicated to the assessee or the date on which they otherwise came to know of it, whichever is earlier.

Section 264(4)

The Commissioner may, on an application by the assessee for revision under this section, make such inquiry or cause such inquiry to be made and, subject to the provisions of this Act, may pass such order thereon, not being an order prejudicial to the assessee, as the Commissioner thinks fit.

Section 264(5)

Every application by an assessee for revision under this section shall be accompanied by a fee of twenty-five rupees.

2. Purpose and Objective of Section 264

The primary objective of Section 264 is to provide a remedy for taxpayers who believe that an order passed by a subordinate authority is erroneous or unjust. It ensures that taxpayers have a mechanism to correct such mistakes without resorting to expensive and time-consuming litigation processes. It also enables the Commissioner to rectify errors and ensure fair treatment of taxpayers.

3. Proper Reasoning

When a taxpayer applies for a revision under Section 264, it is essential to provide a well-reasoned application. Key points to consider include:

Clarity and Precision: Clearly state the specific order being contested and the grounds for seeking revision.
Evidence and Documentation: Provide all relevant documents and evidence supporting the claim that the order is incorrect or unjust.
Legal Grounds: Cite relevant sections of the Income Tax Act and other applicable laws to substantiate the claim for revision.
Timeliness: Ensure the application is filed within the stipulated time frame of one year from the date of the order or the date the assessee became aware of it.

4. Legal Recourse and Legal Proceedings

If an assessee is aggrieved by an order passed by a subordinate authority, they can seek revision under Section 264 by following these steps:

Filing the Application: The application must be filed within one year from the date the order was communicated or came to the knowledge of the assessee. It should be accompanied by a fee of twenty-five rupees.
Submission of Documents: All supporting documents and evidence must be submitted along with the application.
Inquiry by Commissioner: The Commissioner may conduct an inquiry or direct a subordinate authority to do so to verify the facts presented in the application.
Order by Commissioner: After considering the application and the inquiry report, the Commissioner may pass an order that is not prejudicial to the assessee.

5. Do’s and Don’ts

Do’s:

Ensure timely filing of the revision application.
Clearly state the grounds for seeking revision.
Provide all necessary documents and evidence.
Seek professional advice if needed to strengthen the application.

Don’ts:

Do not apply if an appeal is pending before the Commissioner (Appeals) or the Appellate Tribunal.
Avoid presenting vague or unsubstantiated claims.
Do not miss the one-year deadline for applying.

6. Example

Subject: Application for Revision under Section 264 of the Income Tax Act, 1961

To, The Commissioner of Income Tax, [Name of the City], [Address of the CIT Office]. Date: [Date of Application] From, [Name of the Assessee], [Address of the Assessee], Permanent Account Number (PAN): [●], Email: [●], Contact Number: [●] Ref: Assessment Year: [Year], Order Date: [Date of the Order], Order Passed by: [Name and Designation of the Assessing Officer]

Application for Revision of Assessment Order under Section 264

Respected Sir/Madam, I, [Name of the Assessee], respectfully submit this application under Section 264 of the Income Tax Act, 1961, seeking revision of the assessment order dated [Date] passed by [Assessing Officer] for the assessment year [Year]. The order was communicated to me on [Date].

Grounds for Revision:

Incorrect Computation of Income: The Assessing Officer has incorrectly computed my total income by disallowing certain genuine business expenses amounting to INR [Amount]. These expenses were incurred wholly and exclusively for the purpose of my business, and the necessary supporting documents were provided during the assessment proceedings.
Disallowance of Depreciation: The Assessing Officer has disallowed depreciation of INR [Amount] on [Asset Description]. The asset in question was duly put to use for business purposes during the relevant previous year, and the depreciation claim was made under the provisions of the Income Tax Act.
Incorrect Addition of Income: An addition of INR [Amount] was made to my income on account of unexplained cash deposits. These deposits were duly explained during the assessment proceedings as receipts from my business operations, supported by relevant documentary evidence.

Facts and Circumstances:

Business Expenses: During the assessment proceedings, I provided detailed explanations and documentary evidence for the business expenses incurred. Despite this, the Assessing Officer disallowed these expenses without providing any valid reasons. Attached herewith are copies of the invoices, payment receipts, and a detailed explanation of the expenses (Annexure A).
Depreciation Claim: The asset for which depreciation has been disallowed was acquired and put to use in the relevant previous year. The disallowance was made without considering the factual details and the relevant provisions of the Income Tax Act. Enclosed herewith is a copy of the invoice and proof of usage of the asset (Annexure B).
Cash Deposits: The cash deposits were duly explained as business receipts, supported by sales invoices and receipts. The Assessing Officer’s addition of this amount as unexplained income is unjustified. Attached herewith are copies of the sales invoices and bank statements (Annexure C).

Prayer:

Given the above grounds and the supporting documents, I humbly request you to kindly revise the assessment order dated [Date] for the assessment year [Year] under the provisions of Section 264 of the Income Tax Act, 1961. I pray for the following reliefs:

Allowance of the disallowed business expenses amounting to INR [Amount].
Allowance of the depreciation claim of INR [Amount] on [Asset Description].
Deletion of the addition of INR [Amount] on account of unexplained cash deposits.

I affirm that no appeal against the said order is pending before the Commissioner (Appeals) or the Income Tax Appellate Tribunal, and I have not waived my right of appeal. Thank you for your consideration. Yours sincerely, [Name of the Assessee] [Signature]

Enclosures:

Copy of the assessment order dated [Date]
Annexure A: Details and supporting documents for business expenses
Annexure B: Details and supporting documents for depreciation claim
Annexure C: Details and supporting documents for cash deposits
Proof of filing fee payment of INR 25

7. Conclusion

Section 264 of the Income Tax Act, 1961, serves as a vital mechanism for taxpayers to seek redressal against erroneous or unjust orders passed by subordinate authorities. By understanding the provisions, objectives, and proper procedures associated with Section 264, taxpayers can effectively utilize this tool to ensure fair and just treatment under the law. Proper reasoning, timely action, and adherence to legal requirements are key to successfully navigating the revision process under this section.

Tagged Buisness, Funding, Tax, TDS

Corporate Social Responsibility Explained

Uttarayan

March 5, 2024

7:30 am

What is Corporate Social Responsibility in India? An In-Depth Analysis

Corporate Social Responsibility Law (CSR) in India has evolved from voluntary donations and philanthropy to a statutory requirement, integrating social, environmental, and ethical responsibilities into the corporate sphere. The Indian government’s mandate on CSR under the Companies Act 2013 marked a significant step towards embedding corporate philanthropy into the fabric of the Indian business ecosystem. This article delves into the types, benefits, and unique characteristics of CSR in India, offering insights into its impact on society and businesses.

Understanding CSR in India

Legislative Framework

Companies Act, 2013: India has been at the forefront of corporate social responsibility (CSR) enforcement through legislation. The country has mandated that companies that meet certain financial thresholds must allocate a minimum of 2% of their average net profit from the preceding three years towards CSR activities. This legislation has driven a corporate philanthropy and social responsibility culture in India, with companies investing heavily in education, healthcare, and environmental sustainability. The Indian government has also established a framework to monitor and evaluate the CSR activities of companies, ensuring that they are aligned with national development goals and making a meaningful impact on the communities they serve.
CSR Activities: The Corporate Social Responsibility (CSR) Act encompasses a comprehensive spectrum of activities eligible for CSR expenditure. These activities include but are not limited to promoting education and skill development, supporting healthcare initiatives, fostering environmental sustainability, promoting gender equality, and undertaking rural development projects. The Act emphasises the importance of corporate entities taking responsibility for their impact on society and the environment. It encourages them to contribute to bettering the communities in which they operate.

Types of CSR Initiatives

Community Development: Numerous companies have recognised the importance of community development in their operations. To facilitate sustainable growth and development, these companies have taken initiatives to address fundamental needs such as access to clean drinking water, proper sanitation facilities, and improved education. By focusing on these necessities, companies can foster a sense of community and provide opportunities for individuals to thrive and achieve their full potential. Such efforts also help to promote economic development and create a positive impact on the surrounding environment.
Environmental Sustainability: Many businesses today are taking proactive steps towards reducing their ecological footprint. One of the primary ways they achieve this is through various initiatives, such as afforestation, renewable energy projects, and water conservation efforts. Afforestation involves planting trees on previously barren or deforested land, which helps restore soil health, support biodiversity, and sequester carbon from the atmosphere. On the other hand, renewable energy projects involve harnessing clean and renewable energy sources, such as solar, wind, or hydropower, to power business operations. This reduces reliance on fossil fuels and helps to mitigate climate change. Finally, water conservation efforts involve implementing practices and technologies that reduce water usage and waste, such as rainwater harvesting, wastewater treatment, and drip irrigation. These initiatives are essential for businesses to adopt if we want to create a more sustainable and environmentally friendly future.
Skill Development and Employment: These programs provide vocational training and skill development opportunities to underprivileged individuals, aiming to create job opportunities to uplift them economically. Through these programs, individuals can acquire the necessary skills and knowledge to secure sustainable employment, improving their socioeconomic status and quality of life. These programs serve as a means to bridge the gap between the skills required in the job market and the skills possessed by the underprivileged, ultimately leading to a more equitable society.

Benefits of CSR in India

For Society

Improved Standard of Living: CSR projects in education, healthcare, and sanitation directly enhance the quality of life for marginalised communities.
Sustainable Development: Environmental CSR initiatives help promote sustainable development by conserving resources and promoting green technologies.

For Corporations

Brand Image and Reputation: Effective CSR practices enhance a company’s image and build its reputation as a socially responsible entity.
Employee Satisfaction: Engaging in CSR activities can boost employee morale and satisfaction by instilling a sense of purpose and pride in their work.
Regulatory Compliance: Adhering to CSR regulations helps companies avoid legal penalties and aligns them with global sustainability and corporate governance standards.

Unique Characteristics of CSR in India

Mandatory Spending

In India, Corporate Social Responsibility (CSR) is not just a voluntary practice but a legal requirement for qualifying companies. According to Indian law, companies with a certain level of profits are mandated to allocate a portion of their profits towards CSR activities. This makes CSR an integral part of the corporate governance framework in India. The government has also specified the areas in which companies can invest their CSR funds, such as education, healthcare, environmental sustainability, and poverty alleviation. This legal mandate ensures that companies contribute towards the betterment of society while also improving their brand image and reputation.

Focus on Local Areas

Corporate Social Responsibility (CSR) guidelines in India emphasise companies’ need to take up projects in their local operating areas. This approach ensures that the benefits of the company’s success are not limited to their shareholders alone but are also shared with the immediate community. By undertaking such projects, companies can contribute to the socio-economic development of the local community while also addressing various environmental and societal issues. The projects can range from supporting education and healthcare initiatives to promoting sustainable livelihoods and environmental conservation. The ultimate goal is to create a positive impact and promote inclusive growth while maintaining ethical and responsible business practices.

Emphasis on Monitoring and Reporting

According to current corporate social responsibility (CSR) norms, companies must submit a detailed report of their CSR activities annually. This report must provide a comprehensive account of the initiatives undertaken by the company, the amount of expenditure involved, and the actual impact created through these activities. This requirement aims to ensure transparency and accountability in CSR activities and motivate companies to make more strategic investments in this area. By encouraging companies to participate actively in CSR initiatives, it is hoped that they will contribute to the betterment of society and the environment in addition to their usual business operations.

Challenges and the Way Forward

While the CSR mandate has led to increased social investment and community engagement by corporations, it also presents challenges such as project sustainability, impact assessment, and aligning CSR initiatives with corporate goals. Moving forward, companies are encouraged to:

Innovate in CSR Practices: Adopt innovative CSR approaches that align with corporate strategy and social good.
Impact Assessment: Develop robust mechanisms for measuring the impact of CSR activities to ensure their effectiveness and sustainability.
Stakeholder Engagement: Engage with communities, NGOs, and government bodies to create collaborative and impactful CSR projects.

Conclusion

Corporate Social Responsibility in India represents a blend of mandatory compliance and ethical business practices, contributing to the country’s socio-economic development. By mandating CSR, India has set a precedent for integrating social welfare into the corporate agenda, encouraging businesses to play a pivotal role in addressing social and environmental challenges. As companies evolve in their CSR approaches, they must focus on creating meaningful, sustainable impacts that contribute to the broader goal of inclusive growth and development. www.cfoangle.com helps companies do CSR compliance and ensure they fall in place for their duties and responsibilities

Tagged Buisness, Corporate Social Responsibility, Funding

Private Equity Explained With Examples and Ways to Invest

Uttarayan

7:06 am

Introduction to Private Equity (PE) and Venture Capital (VC)

Private Equity (PE) and Venture Capital (VC) are investment funds that play a crucial role in the financial world. PE funds invest in private companies or conduct buyouts of public companies, aiming for significant control or ownership to influence their direction and growth.

Venture Capital targets startups and early-stage companies with high growth potential. VC firms provide capital in exchange for equity, betting on their future success. Unlike Private Equity, VC is about seeding potential market leaders in their nascent stages.

PE and VC are vital for companies to grow, innovate, and transform. They offer capital, expertise, and strategic guidance for success.

Definition of Private Equity (PE):

- - PE involves investment funds that directly invest in private companies or engage in buyouts of public companies, resulting in their delisting from public stock exchanges.
  - Investors in PE are typically institutional and accredited investors who can commit large sums of money for long periods.

Definition of Venture Capital (VC):

- - VC is a subset of PE focused explicitly on investing in startups and small businesses that show potential for long-term growth.
  - VC funds are willing to risk investing in these early-stage companies, hoping for a significant return on investment.

Role in the Finance World:

- Capital Injection: Both PE and VC inject much-needed capital into companies. This funding is crucial for expansion, product development, and operational improvements.
- Expertise and Networking: Beyond capital, PE and VC firms bring industry expertise, managerial or technical guidance, and a vast networking opportunity, helping businesses scale and navigate market challenges.
- Economic Impact: They play a vital role in the economy by fostering innovation, creating jobs, and driving growth in various sectors.
- Market Efficiency: By investing in underperforming companies and turning them around or funding innovative startups, PE and VC contribute to the overall efficiency and dynamism of the financial markets.

Who are Private Equity (PE)

Private Equity (PE) funds are investment vehicles that gather capital from investors to invest in private or public companies. Private Equity (PE) companies are specialised investment firms that pool capital from high-net-worth individuals, institutional investors, and other sources to invest in private companies, acquire stakes in public companies to delist them or take controlling interests in struggling firms to restructure and sell them for a profit. These funds are managed by PE firms, which specialise in making and managing these investments to achieve high returns for their investors.

How They Operate:

- - Fundraising: PE funds begin by raising capital from limited partners (LPs), which include pension funds, endowments, wealthy individuals, and other institutional investors.
  - Searching for Investment Opportunities: Once the fund has capital, it looks for private or public companies that can be taken private, with the potential for significant improvement or growth.
  - Due Diligence: Before investing, PE firms conduct a thorough analysis and due diligence to assess the potential risks and returns of the investment.

The Process of Investment:

- - Acquisition: PE funds typically acquire a significant stake or complete ownership of companies through direct investments, leveraged buyouts, or buy-ins.
  - Value Addition: After the acquisition, PE firms work closely with the company’s management to improve operational efficiencies, cut costs, and increase revenue, often through strategic restructuring and management changes.
  - Exit Strategy: The ultimate goal is to exit the investment within 4-7 years through various means, such as an initial public offering (IPO), sale to another PE firm, or sale to a corporate buyer, aiming to realise a significant return on investment.

Fund Management:

- Active Management: PE firms actively manage their portfolio companies, leveraging their expertise and networks to enhance value.
- Performance Monitoring: Regularly assess the invested companies’ performance metrics and financial health to ensure alignment with the fund’s strategic goals.
- Distribution of Returns: Upon exiting investments, profits are distributed among the investors after deducting fees and carrying interest for the PE firm.

What Constitutes a PE Company:

- - PE companies are characterised by their investment strategy, which focuses on acquiring significant or total control of companies to influence their management and operations.
  - They raise funds from limited partners (LPs), including pension funds, endowments, and wealthy individuals, creating a pool of capital used for investments.

Roles and Objectives of PE Companies:

- Value Creation: The primary objective is to increase the value of their portfolio companies through operational improvements, financial restructuring, and strategic acquisitions or divestitures.
- Strategic Management: PE companies take on a hands-on role in managing their investments, providing expertise, resources, and access to their network to drive growth.
- Generating Returns: The ultimate goal is to sell these investments at a significant profit, either through public offerings, sales to other corporations, or other investment firms.

Strategies of Private Equity

Private Equity (PE) firms employ various strategies to meet their investment objectives and deliver value to their investors. Among these, three key strategies stand out: Venture Capital, Buyouts/Leveraged Buyouts, and Growth Capital. Each strategy has its unique focus, risk profile, and target companies, differing in the stages of a company’s lifecycle they invest in and the type of value they aim to create.

Venture Capital (VC):

- - Focus: VC is aimed at early-stage companies with high growth potential but significant risk. These companies are often in the tech, biotech, or green tech sectors.
  - How It Differs: Unlike other PE strategies, VC invests smaller capital for minority stakes in startups and growth companies. The emphasis is on exponential growth and innovation rather than immediate cash flow or profitability. The risk is higher, but so is the potential return, often realised through an IPO or sale to a larger company.

Buyouts/Leveraged Buyouts (LBOs):

- - Focus: This strategy involves acquiring a controlling interest in a company, often using a significant amount of debt to finance the purchase price. The target companies are usually established with stable cash flows.
  - How It Differs: LBOs are characterised by using leverage (debt), aiming to improve the company’s operations, reduce costs, and sell it for a profit. The risk is associated with debt repayment, but the companies targeted are typically more stable and mature than those in VC. The value creation comes from operational improvements and financial restructuring.

Growth Capital:

- Focus: Growth capital is provided to more mature companies seeking funds to expand or restructure operations, enter new markets, or finance significant acquisitions without a change of control.
- How It Differs: This strategy involves investing in companies beyond the startup phase that has yet to be ready or willing to be fully acquired or go public. Unlike VC, the companies are more established and have more apparent paths to profitability. Unlike LBOs, the investment does not involve buying out the company or using significant leverage.

Each of these strategies plays a critical role in the PE ecosystem, catering to different types of companies at various stages of their growth and development.

Private Equity (PE) and Venture Capital (VC) are integral components of the investment ecosystem, each with distinct strategies, risk profiles, and objectives. Yet, they share some similarities and play symbiotic roles in financing businesses across different life stages.

Differences:

Investment Stages: PE firms typically invest in more mature companies seeking to restructure operations, expand, or facilitate an ownership transition. Conversely, VC focuses on early-stage companies with high growth potential, often in technology or innovative sectors.
Risk Profiles: VC investments are considered a higher risk, given the early stage of the companies and the uncertainty of their success. PE investments, while still involving risk, often target established businesses with proven revenue models, aiming to improve or expand operations.
Expected Outcomes: VC seeks exponential growth and returns through startup equity stakes, aiming for a successful exit via an IPO or acquisition. PE aims for substantial returns through operational improvements, strategic investments, or preparing the company for a sale or public offering.

Similarities and Symbiotic Relationship:

PE and VC provide crucial capital to companies inaccessible through traditional financing routes, driving innovation, growth, and job creation.
They offer their portfolio companies strategic guidance, industry connections, and managerial expertise.
The ecosystem benefits from their symbiotic relationship: successful startups funded by VC may become targets for PE investments as they mature, facilitating a continuum of growth and investment opportunities across the business lifecycle.

Real-world Examples

Real-world examples of successful Private Equity (PE) and Venture Capital (VC) investments illustrate these entities’ impactful role in business, showcasing the strategic insights and financial acumen that drive significant returns.

PE Success: The Blackstone Group and Hilton Hotels

1. 1. Investment: 2007, Blackstone acquired Hilton Hotels for about $26 billion.
  2. Success Factors: Strategic restructuring, significant investment in property renovations, and expansion of the Hilton brand portfolio. The economic recovery also played a role, boosting travel and hospitality sectors.
  3. Outcome: Blackstone exited Hilton in 2018, with the investment generating approximately $14 billion in profits, making it one of the most profitable PE deals.

VC Success: Sequoia Capital and WhatsApp

1. Investment: Sequoia Capital invested around $60 million in WhatsApp over three rounds, starting in 2009.
2. Success Factors: Betting on the exponential growth of mobile messaging, Sequoia supported WhatsApp’s mission to keep the app fast, simple, and focused on privacy, with a clear monetisation path through a subscription model.
3. Outcome: Facebook acquired WhatsApp for $19 billion in 2014, yielding Sequoia an estimated return of over $3 billion, one of the most successful VC investments in terms of ROI.

These examples underscore the essence of successful PE and VC investments: strategic foresight, operational improvements, and choosing the right moment to enter and exit investments. Blackstone’s restructuring and expansion strategy for Hilton and Sequoia’s early bet on WhatsApp’s potential demonstrates how PE and VC can leverage industry trends and business models to realise exceptional returns. www.cfoangle.com is the company that has built a network of trusted VCs and PEs who are helping its clients with debt and equity funding. For more info follow CFOAngle.com

Tagged Buisness, Funding, private equity

Hedge Fund Definition, Examples, Types, and Strategies

Uttarayan

March 4, 2024

2:21 pm

Hedge Fund Definition, Examples, Types, Benefits, and Strategies

Definition – What is a Hedge fund

Hedge funds are investment vehicles designed to maximise returns and hedge against market volatility. Some of the concepts are:

Core Concept: Hedge funds use diverse investment strategies to generate active returns and aim for high returns by leveraging various asset classes.

Investor Profile: Hedge funds are usually open to accredited investors or high-net-worth individuals. Investors are required to commit their capital for a minimum lock-up period.

Investment Strategies: Hedge funds use various strategies like long/short equity, market neutral, volatility arbitrage, global macro, fixed income, and event-driven to profit in rising and falling markets.

Use of Leverage: Hedge funds use borrowed money to increase investment returns but also increase risk and potential losses.

Fee Structure: They typically charge a management fee (around 1-2% of assets managed) and a performance fee (about 20% of any profits earned).

Regulation: Hedge funds have more investment flexibility due to less regulation but must still adhere to specific standards and practices.

Diversification and Risk Management: Hedge funds diversify investments and use advanced risk management techniques to protect investment capital.

Performance and Volatility: Hedge funds are high-risk investments that offer the potential for significant returns regardless of market conditions, but their performance is mainly dependent on the skill of the fund manager and the effectiveness of the fund’s strategy.

Types of Hedge Funds

Global Macro: Invest based on macroeconomic trends across the globe using currencies, commodities, and interest rates.
Market Neutral: Seek to avoid market risk by balancing long and short positions in their portfolio.
Event-driven: Focus on corporate events such as mergers and acquisitions, bankruptcies, and other significant events that can affect a company’s value.
Long/Short Equity: Take long positions in undervalued stocks while shorting overvalued stocks.
Quantitative: Rely on quantitative analysis to make investment decisions, often using algorithms and computer models.

Benefits of Hedge Funds in India

Diversification: Hedge funds employ less correlated strategies with traditional equity and bond markets, offering diversification benefits to investors’ portfolios.
Potential for High Returns: With the ability to use leverage and short selling, hedge funds can generate high returns, even in volatile or declining markets.
Flexibility: The regulatory framework for Category III AIFs in India allows hedge funds more flexibility in their investment strategies than traditional investment funds.
Professional Management: Hedge funds are managed by professional fund managers with significant expertise in executing complex strategies and managing risks.

Examples

Munoth Hedge Fund
Forefront Alternative Investment Trust
Quant First Alternative Investment Trust
IIFL Opportunities Fund
Singlar India Opportunities Trust
Motilal Oswal’s offshore hedge fund
India Zen Fund

Strategies Used by Hedge Funds

Leverage: Borrowing money to increase the potential return on an investment.
Short Selling: Selling a borrowed security with the expectation that it will decrease in value, allowing it to be repurchased at a lower price for a profit.
Arbitrage: Taking advantage of a price difference between two or more markets by making simultaneous trades that capitalise on the imbalance of prices.
Derivatives Trading: Using contracts such as options and futures to speculate on the future price movements of underlying assets.
Credit Strategies: Investing in fixed-income securities and using credit analysis to profit from issuers’ improving or deteriorating creditworthiness.

Regulation in Hedge Funds in India

Hedge funds in India are regulated by the Securities and Exchange Board of India (SEBI), which oversees Alternative Investment Funds (AIFs). AIFs include hedge funds, private equity, and real estate funds. SEBI ensures that hedge funds operate within a structured and secure framework by enforcing essential rules and regulatory guidelines.

Classification of AIFs

Category III AIFs: Hedge funds in India fall under Category III Alternative Investment Funds. These AIFs employ diverse or complex trading strategies and may leverage through investment in listed or unlisted derivatives.

Registration and Compliance

Registration Requirement: All hedge funds must register with SEBI under the AIF Regulations, 2012. This registration is crucial for ensuring transparency and compliance with legal standards.
Operational Guidelines: SEBI mandates certain operational norms for hedge funds, including disclosure requirements, investment strategies, and risk management practices to protect investor interests.

Investment Restrictions and Guidelines

Leverage Limits: SEBI may specify leverage limits for Category III AIFs to manage risk and prevent excessive speculative trading.
Investment Diversification: While there are no specific diversification rules for Category III AIFs, fund managers are expected to follow prudent investment practices to mitigate risk.
Minimum Investment: The minimum investment by an investor in a hedge fund (Category III AIF) is INR 1 crore (approximately USD 130,000). This threshold ensures investors have a specific financial standing and can absorb potential losses.
Maximum number of Investors in the Pool: The maximum number of investors in the pool is limited to 1000.
Minimum Pool of Investment: The Hedge fund must ensure a minimum pool of Rs 20 Cr before starting the activity.
Lock-in Period: There has to be a minimum lock-in-period for all the investors for one year to invest in hedge funds

Investor Protection Measures

Disclosure Norms: Hedge funds must disclose information about their investment strategy, fund manager details, fees, and risks to prospective investors.
Periodic Reporting: Regular reporting to SEBI and investors on the fund’s performance, financials, and risk management practices is mandatory, enhancing transparency and accountability.

Withdrawal From the Hedge Funds

Advance Notice: Indian hedge fund investors must provide advance notice before withdrawing to avoid negatively impacting the fund’s strategy or performance.
Scheduled Withdrawals: Indian hedge funds only allow withdrawals at predefined intervals to manage liquidity efficiently, considering their investment strategies that may include positions in illiquid assets.
Withdrawal Charges: Withdrawal fees may apply to discourage early withdrawals and offset the potential impact on remaining investors.

Taxation

Tax Treatment: Category III AIFs in India are taxed at the investor level, with income treated as business income and subject to applicable tax rates.

Income	Tax Rate
Annual earnings exceeding Rs 5 crores	42.74%
Annual earnings below Rs 5 crores	30%
Dividends	15%

Hedge Fund Fees Structure

A typical fee structure for a Hedge fund is around 2% or below on the amount invested for managing the fund. They also charge 20% of the profits earned as their fees.

Major Risks Associated with Hedge Funds

1. Market Risk

Volatility: Hedge funds often engage in investment strategies that can be highly sensitive to market fluctuations, leading to potential losses during volatile periods.

Leverage: Using leverage can amplify gains and exacerbate losses, making the fund more susceptible to market downturns.

2. Liquidity Risk

Asset Illiquidity: Investments in illiquid assets can make it difficult for hedge funds to sell positions without significantly impacting the asset’s price, particularly during market stress.

Withdrawal Restrictions: Lock-up periods, notice periods, and redemption gates can restrict investors’ ability to withdraw their capital, potentially trapping them in a declining fund.

3. Credit Risk

Counterparty Failure: Hedge funds may be exposed to the risk that a counterparty to a transaction (e.g., for derivatives or borrowed securities) fails to fulfil its obligations, leading to losses.

4. Operational Risk

Management Errors: Operational issues, such as errors in trade execution, valuation inaccuracies, or failure in internal controls, can lead to financial losses.

Fraud and Mismanagement: Fund managers risk engaging in fraudulent activities or mismanaging the fund, affecting performance and investor trust.

5. Strategy-Specific Risk

Concentration: Some hedge funds may have a high concentration in specific investments or sectors, increasing susceptibility to losses if those areas underperform.

Complex Strategies: The complexity of some hedge fund strategies may be challenging to understand and lead to unexpected outcomes in untested market conditions.

6. Regulatory and Legal Risks

Changes in Legislation: Regulatory changes can affect hedge fund operations, investment strategies, and tax obligations, potentially impacting returns.

Litigation: Hedge funds may face legal challenges that can lead to financial penalties or reputational damage.

7. Leverage Risk

Borrowing Costs: The cost of borrowing can increase, squeezing the fund’s profits or exacerbating losses.

Margin Calls: During market downturns, funds may face margin calls, forcing them to liquidate positions at unfavourable prices to meet borrowing requirements.

8. Performance Risk

Fee Structure: High management and performance fees can erode returns, especially in underperforming funds.

Benchmarking: Hedge funds aim for absolute returns, making comparing performance against traditional benchmarks and assessing value difficult.

9. Transparency and Reporting Risks

Limited Disclosure: Hedge funds are only sometimes required to disclose their positions or strategies, making it challenging for investors to assess risk fully.

Valuation: The valuation of complex or illiquid investments can be subjective, affecting reported performance and fund transparency.

Conclusion

Hedge funds must operate transparently and responsibly while complying with regulations. These regulations foster a healthy investment environment and guard against speculative and high-leverage trading practices. SEBI continually improves these regulations to support the growth of hedge funds and other AIFs. By complying with these regulations, hedge funds can build trust and credibility with investors while protecting themselves and the financial system from harm. For more information follow CFOAngle.com

FAQ’s

Is Hedge Fund a Real Money?

Yes, Hedge Funds Are Real. Hedge funds manage actual capital invested by investors, institutions (like pension funds, endowments, and foundations), and sometimes wealthy individuals. This capital is used to invest in various financial instruments, including stocks, bonds, commodities, derivatives, and more, aiming to generate returns.

Are hedge funds legal?

Yes, hedge funds are legal and operate within a regulatory framework designed to oversee their activities and protect investors. SEBI is the regulatory body that regulates the operation of Hedge Funds in India.

Tagged Buisness, Funding, Hedge Fund

A Deep Dive into the Strategies and Benefits of Taxes Saved by Businesses

Uttarayan

January 18, 2024

5:40 pm

Saving on taxes or understanding tax-saving tips is a crucial aspect of managing business finances effectively. A common question often arises about how to save ta in a private limited company in India. Can we do something legally so that taxes are saved? Some tax planning tips can be implemented in today’s business life to derive immediate and long-term benefits. Some of the tips below are best suited for Startup Tax Strategies.

Here are some tax benefits for entrepreneurs in India:

Utilise Section 10AA for SEZ Units:

1. 1. Businesses operating in Special Economic Zones (SEZs) can avail of a deduction under Section 10AA of the Income Tax Act.
  2. There are many SEZs in India, and to name a few are:
    1. Visakhapatnam Special Economic Zone,
    2. Noida Special Economic Zone
    3. Kandla Special Economic Zone
    4. Cochin Special Economic Zone
    5. Mangalore Special Economic Zone
    6. And many other zones across various parts of India.
  3. Key benefits of having a unit in SEZs
    1. Exemption from GST
    2. Dutyuty-free import of raw materials for production
    3. 100% income tax exemption on export income for SEZ units for the first 5 years, after that 50% for the next 5 years
    4. Setup of businesses without any hassles of licenses or lengthy procedures
    5. Good banking setup for funding
    6. Easy acquisition of land for the setting up factor and other facilities
    7. Access to labour as the government promotes the ecosystem around the SEZs

Optimise expenses in the business:

1. 1. Ensure costs are incurred in the company so that all expenses are allowable.
  2. For Example, A car should be purchased in the business, allowing it to depreciate, along with fuel and repair costs.
  3. Interest paid on the loan taken for the car is also an allowable expense.

Leverage Research and Development (R&D) Credits:

1. 1. Businesses investing in research and development activities may be eligible for tax credits and deductions. Ensure compliance with relevant provisions.
  2. For example, contributions paid to national laboratories and spending money on scientific research are some of the expenses that are 100% allowable.
  3. Contribution paid for the use of research done for social science or statistical research
  4. Many specific research activities are allowable expenses.

Explore Capital Allowances:

1. 1. Businesses can claim depreciation on assets and capital expenditures as per the rates prescribed by the Income Tax Act. Be aware of the different depreciation rates for various assets.
  2. Buy assets in the business and claim depreciation.
  3. Buy property in the business, and rental income and expenses can be claimed.

Claim Input Tax Credit under GST:

1. 1. Ensure proper documentation and compliance with Goods and Services Tax (GST) regulations to claim input tax credits on GST paid for business expenses.
  2. Businesses often take 100% of the GSTR 2A populated input credits and then pay interest and penalties for ineligible input credits.
  3. For example, a car purchased for official use by the business can be depreciated, and all expenses are eligible for expenses. Still, the input credit paid on the vehicle and expenses is unavailable for ITC.

Utilise Section 35AD for Capital Expenditure:

1. 1. Businesses investing in specified sectors like hotels, hospitals, and scientific research can claim deductions under Section 35AD.
  2. The government announces investment-linked income tax benefits to increase capex investment in some industries. Under these schemes, a new setup is done to increase the investment and not by splitting the existing business. Any expenses incurred for such investment are allowed for 100% exemption.

Avail of Start-up Tax Benefits:

1. 1. Start-ups can benefit from tax exemptions for a specified period under the Start-up India initiative. Ensure eligibility and compliance with the prescribed criteria.
  2. Tax holidays allowed for startups in a block period when they started earning profits.

Maintain Proper Accounting Records:

1. 1. Accurate and timely maintenance of accounting records helps correctly compute income, deductions, and compliance with tax regulations.
  2. Businesses often don’t give proper importance to accounting and bookkeeping; thereby, improper reconciliation of books calculates wrong profits and wrong tax, which can lead to interest and penalties for no reason.

Pay timely Advance Taxes:

1. 1. Paying accurate advance taxes on the due dates helps to bring down interest and penalties under section 234 of the income tax for short and delayed payment of income tax.
  2. Compute the Advance tax quarterly and ensure it is trueup and rechecked every quarter to ensure the correct tax is paid. Some prudent businesses pay slightly higher taxes and take a refund on completion than paying less.

Optimise Business Structure:

1. 1. Evaluate the most tax-efficient business structure, considering factors like proprietorship, partnership, Limited Liability Partnership (LLP), or private limited company.
  2. If the business threshold increases for a proprietor or a partnership, they should convert to a Company to save substantial taxes on the profit. The average rate of taxes for Properitership when the profits are more than 5 Cr is 47% vs in the company it is 27%.

Take Advantage of Presumptive Taxation:

1. 1. Small businesses can opt for presumptive taxation schemes, like the Presumptive Taxation Scheme under Section 44AD, to simplify tax compliance.
  2. Professionals use this as a tool to bring down more partners in LLP and company structure to bring down overall tax by dividing it effectively between the parties.

Claim Deductions for Charitable Contributions:

1. 1. Businesses contributing to eligible charities can claim deductions under Section 80G.

Stay Updated on Tax Reforms:
Keep abreast of changes in tax laws, exemptions, and incentives introduced by the government to adapt your tax strategy accordingly.

It’s advisable to consult with a tax professional to ensure compliance with current tax laws and regulations and to tailor strategies based on the business’s specific circumstances. www.cfoangle.com is the company that helps different sets of legal entities generate the best tax structure and save substantial taxes for taxpayers.

Tagged Buisness, Funding, Tax

The Evolution and Landscape of Startup Funding in India: A Comprehensive Analysis

Uttarayan

January 10, 2024

7:19 am

The Evolution and Landscape of Startup Funding in India: A Comprehensive Analysis

India has emerged as a hotbed for startup innovation and entrepreneurship in recent years. Fueled by a booming digital economy, a growing pool of skilled talent, and supportive government initiatives, the Indian startup ecosystem has witnessed remarkable growth. Central to this growth is the availability and evolution of startup funding. This article aims to delve deep into the various facets of startup funding in India, tracing its evolution, exploring the current landscape, and outlining future trends.

Evolution of Startup Funding in India:

The landscape of startup funding in India has significantly transformed over the past few decades. Traditionally, startups faced challenges securing financing due to limited access to capital and risk-averse investor sentiments. However, the scenario gradually changed with the liberalisation of the economy and the rise of globalisation.

The 2000s marked the emergence of angel investors and early-stage funding, providing much-needed support to budding startups. Angel investors, often successful entrepreneurs or high-net-worth individuals, played a pivotal role by providing seed capital, mentorship, and industry connections. They started coming singly or in groups to invest in the startups and segments of their choice.

The subsequent decade witnessed the rise of venture capital (VC) funding in India. Both domestic and international VC firms started showing keen interest in Indian startups, especially those operating in technology-driven sectors such as e-commerce, fintech, healthtech, and SaaS (Software as a Service). This influx of VC funding injected significant capital into startups, enabling them to scale operations and expand market reach.

Government Initiatives and Support:

Recognising the importance of startups in fostering economic growth and employment, the Indian government introduced several initiatives to support the ecosystem. The flagship initiative, ‘Startup India,’ launched in 2016, aimed to provide a conducive environment for startups through tax benefits, easier regulatory compliance, and funding support.

Additionally, institutions like SIDBI (Small Industries Development Bank of India) set up dedicated funds to invest in startups. Government-led funds like the Fund of Funds for Startups (FFS) aimed to further bolster the investment landscape by supporting VC firms, thereby catalysing startup funding.

Types of Startup Funding:

Startup funding in India comprises various stages, each catering to different startup needs and growth phases. These include:

Bootstrapping: Many startups begin with bootstrapping, wherein founders use their savings or revenue generated by the business to fund operations initially. Often, friends and family support them to start the business, also called bootstrapping.
Angel Investment: Angel investors, attracted by the potential of early-stage startups, provide capital in exchange for equity. They often play an advisory role, leveraging their expertise and network to support startups. HNIs and groups of HNIs have an interest in specific fields, and where they don’t want to start a business, participate with the entrepreneurs on equity exchange for much-needed fuel a startup needs.
Venture Capital: VC funding, typically available in multiple rounds (seed, Series A, B, C, etc.), involves more significant investments in exchange for equity. Before investing, VCs look for scalability, market potential, and a viable business model. VCs create a portfolio of businesses that is strategic and where they can help build them within the geographies they are interested in. VCs play a more significant role in fueling the growth and increasing the business’s size.
Private Equity (PE): As startups mature and achieve significant milestones, they may attract private equity firms looking to invest in established businesses with proven track records. PE are very strategic investors; sometimes, they acquire the entire company and run and grow the way they want for large-scale growth. Many times, the ultimate aim of PE could be to kill the competition by acquiring certain companies or venture into the segments in which they are not present.
Government Schemes and Grants: Startups can access funds through government schemes, grants, and subsidies to encourage innovation across sectors.

Challenges in Startup Funding:

Despite the growth, the Indian startup ecosystem faces specific challenges concerning funding. These include:

Limited Early-Stage Funding: While abundant capital is available for later-stage startups, early-stage funding remains challenging, especially for unproven ideas or ventures in niche sectors. Without a proven record for revenue not generated, it is hard to secure funds.
Valuation Pressures: Startups often face valuation pressures due to high expectations from investors, leading to potential issues during subsequent funding rounds. For securing funds, promoters/founders dilute significant equity, thus making it unviable for them to function sometimes.
Regulatory Hurdles: Despite efforts to ease regulatory compliance, startups still need to catch up on bureaucratic red tape, which can hinder growth and access to funding. Tax and ROC compliances, if not known, can also be hard-hitting for the companies and eventually cause a loss of capital for them.
Exit Opportunities: The need for viable exit options, such as IPOs or acquisitions, poses challenges for investors looking to cash out their investments, impacting their willingness to fund startups.

Future Trends and Opportunities:

Looking ahead, several trends are poised to shape the future of startup funding in India:

Rise of Alternative Funding: Crowdfunding, impact investing, and corporate venture capital are expected to gain prominence as alternative funding sources for startups.
Sector-Specific Investments: Sectors like artificial intelligence, clean energy, agritech, and electric mobility will likely attract substantial investments due to their potential for disruption and societal impact. Various government initiatives can help boost economic growth and attract sector-specific investments.
Increased Cross-border Investments: Indian startups are expected to attract more global investors, leading to cross-border collaborations and a diverse investor pool. Government initiatives and various tax gateways offered in different segments attract investors from various parts of the world.
Emphasis on Sustainability and ESG: Environmental, Social, and Governance (ESG) considerations are becoming crucial for investors, leading to a focus on sustainable and socially responsible startups.

Conclusion:

The evolution of startup funding in India reflects the dynamic nature of the country’s entrepreneurial ecosystem. While the landscape has evolved significantly, challenges persist, necessitating collaborative efforts from stakeholders, including policymakers, investors, and entrepreneurs, to address them.

With ongoing support from the government, a robust investor ecosystem, and a pool of innovative startups, the future of startup funding in India appears promising. As the ecosystem matures, adapting to emerging trends and addressing challenges will be crucial in sustaining the momentum and fostering continued growth in the Indian startup landscape.

Founders must consider funding as fuel for future growth rather than an exit option to make short-term money.

We at www.cfoangle.com are working with some of the budding founders and investors and help in matching the relationships to fuel growth.

Tagged Funding, StartUp Funding In India