Startup Spotlight: Tax relief for Startups, Layoffs in Startups & More

TICE News | Startup News Of The Week |

Welcome to our latest edition of the Startup Spotlight, where we bring you the hottest updates and developments from the dynamic world of startups! From groundbreaking innovations and government schemes to funding and new hirings in the startup space, our news bulletin dives into the heart of the startup ecosystem, keeping you informed and inspired.

Delhi CM Approves New Scheme to Regulate Cab Aggregators and Delivery Services

Delhi Chief Minister Arvind Kejriwal has given his approval for the Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme 2023, aiming to enhance sustainable and efficient transportation in Delhi. This scheme is expected to benefit both the residents of Delhi and the environment.

CBDT Issues Circular: DPIIT-Registered Startups Exempt from Angel Tax

The Central Board of Direct Taxes (CBDT) has issued a circular to address the ongoing controversy regarding angel tax for startups. The CBDT clarified that this tax would not apply to startup companies recognized by DPIIT, provided the combined value of paid-up share capital and share premium remains under INR 25 Crores.

Meity and IBM Partner to Boost AI and Semiconductor Innovation

IBM has signed three Memorandums of Understanding with the Ministry of Electronics and Information Technology (Meity) to collaborate on advancing the semiconductor, artificial intelligence (AI), and quantum computing sectors. This partnership is significant as India seeks to position itself in cutting-edge technologies.

Rajasthan Government Launches iStart Talent Connect Portal to Boost Employment

The Rajasthan government has launched the iStart Talent Connect Portal under the iStart Rajasthan initiative, aimed at promoting employment in the state. This platform will serve as a medium to connect job seekers with job providers, facilitating job searches and new job postings.

IRCTC Partners with Zomato for In-Train Food Ordering

IRCTC has recently partnered with the food delivery giant Zomato to offer passengers the option of ordering a variety of food through the IRCTC E-catering portal while traveling by train. This service has been initiated at five railway stations, including New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi.

Swiggy's Valuation Rises; New Platform Charges Introduced for Food Delivery

Swiggy's valuation has increased to $7.85 billion, following a period of decreased valuation earlier in the year. Simultaneously, Swiggy has announced a new platform fee of 2 rupees for each food delivery order.

NPCI to Launch AI-Based Conversational Payment with Bhashini

The National Payments Corporation of India (NPCI) is set to introduce the Bhasha Interface for India, an AI named Bhashini, offering conversational payment services in 22 languages. Once the integration is complete, users will be able to perform various financial transactions and services, including checking bank balances, making B2B money transfers, and more.

Fine Imposed on Zomato and McDonald's for Serving Non-Vegetarian Food to a Vegetarian Customer

The District Consumer Dispute Redressal Forum in Jodhpur has imposed a fine of one lakh rupees jointly on Zomato and McDonald's for mistakenly delivering non-vegetarian food to a vegetarian customer who had placed an order through Zomato from McDonald's.

Google Introduces New AI Features to Enhance Online Search Experience

Google has launched new features in India to enhance the AI experience, allowing users to easily access critical information about over 100 government schemes and more. This initiative builds upon Google's generative AI service introduced two months ago.

LinkedIn and Google-Backed Adda247 Announce Significant Layoffs

LinkedIn has laid off approximately 700 employees, affecting engineering, talent, and finance teams, while Google-backed Vernacular Learning Platform Adda247 has also initiated layoffs, impacting around 250 to 300 employees.

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