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FRIDAY, June 09, 2023
Finance Act, 2012 introduced the infamous ‘angel tax’ under section 56(2)(viib) of the Income-tax Act, 1961. Angel tax was originally introduced to discourage shell companies and prevent circulation of black money. In practise, angel tax has hounded several start-ups in India and acted as an impediment in raising capital.
With the expansion of applicability of angel tax provisions on non-resident investors, investment by foreign investors in Indian companies may be subject to angel tax in case such investment is made at a price higher than fair market value. The government has recently notified certain classes of persons, investment by which will be excluded from the ambit of angel tax provisions. However, such exclusions are narrow in scope and likely to benefit only certain categories of investors. In addition, draft valuation rules have also been prescribed for non-resident investors.
Join our webinar,
Angel Tax – Impact on PE / VC investments, on June 9, 2023 at 7 pm IST, as we deconstruct the angel tax provisions and discuss its impact on various investment structures.
Flow of the session
07:00 – 07:45 PM (IST)
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Panel Session
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07:45 – 08:00 PM (IST)
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Audience Q&A
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Speakers:
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VAIBHAV PARIKH
Head, U.S Office
Nishith Desai Associates
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Vaibhav Parikh heads the U.S office of Nishith Desai Associates. Based in the New York office, he leads the practice areas of Technology, Telecom, Mergers and Acquisitions, Private Equity, etc. For over two decades, Vaibhav has been advising major MNCs on Corporate & Securities laws, and Structuring of Inbound/Outbound Investments, Private Equity Investments, IP laws and Exchange Control Law. He has consistently been engaged in advising several top end Technology and Telecom companies. Vaibhav has often played the role of key advisor to leading Cryptocurrency exchanges in India and several leading Indian e-commerce companies in their operations from a legal and regulatory standpoint.
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PARUL JAIN
Co-Head, International Tax Practice
Nishith Desai Associates
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Parul co-heads the International Tax Practice at Nishith Desai Associates. A lawyer and a chartered accountant by profession, she has close to two decades of experience incorporate and international tax field and specializes in M&A transactions and Private Equity space. Prior to joining Nishith Desai Associates, she was partner at M&A Tax practice in one of the Big Four accounting firms. She advises extensively on cross border taxation, acquisition and reorganisation strategies including debt funding and investment strategies. She has also worked closely with renowned fund managers in structuring set up of their offshore and domestic fund platforms, including providing advice on carry structuring from a legal and tax perspective. She has been recognized by International Tax Review World Tax2013 and has also been listed in The Legal500 Directory. She has also been recognized as one of the Leading Women Leaders in Tax 2016, 2017 and 2019 by International Tax Review.
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Ipsita Agarwalla
Member,
International Tax and Fund Formation
Practice
Nishith
Desai Associates
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Ipsita has over 5 years
of experience in international taxation,
M&A and fund formation. She is experienced
in advising several clients on domestic
M&A transactions and restructurings, inbound
investments and repatriation, private equity
transactions.
She frequently advises
on tax issues to several technology companies
on tax and structuring issues, from an international
tax and GST perspective including on upcoming
technologies and digital products such as
block-chain, crypto, non-fungible tokens
and gaming. She is passionate regarding
the social finance and impact investment
space. She has assisted in the launch of
one of India’s first-of-a-kind, USD 14.4
million Skill Impact Bond.
She is also a member
of the funds practice at Nishith Desai Associates
where she advices on funds structuring and
documentation of funds (domestic including
GIFT City funds and offshore funds). She
is also involved in advising various private
equity clients with respect to their carry
structures. She is extensively involved
in the firms’ effort on identifying new
opportunities and leveraging the new international
financial services centre at GIFT City,
Gujarat.
She also writes regularly
on contemporary international tax issues
and has been involved with several initiatives
within the firm, particularly for taxation
of financial transactions and digital taxation.
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Mumbai (India)
Friday, 09 June 2023, 19:00:00
IST UTC+5:30 hours
Palo Alto (USA - California)
Friday, 09 June 2023, 06:30:00
PST UTC-8 hours
New York (USA)
Friday, 09 June 2023, 09:30:00
EST UTC-5 hours
Singapore
Friday, 09 June 2023, 21:30:00
SGT UTC+8 hours
London (UK)
Friday, 09 June 2023, 14:30:00
GMT UTC
Tokyo (Japan)
Friday, 09 June 2023, 22:30:00
JST UTC+9 hours
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About Nishith
Desai Associates
www.nishithdesai.com
With offices in
Asia, Europe and the United States Nishith
Desai Associates is the go-to firm for
corporates looking to conduct business
in India as well as for Indian companies
looking to set up operations abroad;
navigate complex business regulations
and grow.
Our core practice
areas include International Tax, Succession
and Estate Planning, International Tax
Litigation, Mergers & Acquisitions,
JVs & Restructuring, International
Litigation & Dispute Resolution,
Capital Markets, Corporate & Securities
Law, Fund Formation, PE/VC Fund Investments,
Real Estate Fund Formation, Real Estate
Investments, Employment and HR, Intellectual
Property, Competition Law, International
Commercial Law. Our specialized industry
niches include financial services, IT
and telecom, education, pharma and life
sciences, media and entertainment, real
estate and infrastructure.
Chambers
and Partners Asia Pacific 2023:
Top Tier for Tax, TMT, Employment, Life
Sciences, Dispute Resolution, FinTech
Legal
Legal 500
Asia Pacific 2023: Top Tier
for Tax, TMT, Labour & Employment,
Life Sciences & Healthcare, Dispute
Resolution
Benchmark
Litigation Asia Pacific 2023:
Top Tier for Tax, Labour & Employment,
International Arbitration
IFLR1000
2022: Top Tier for M&A
and Private Equity
AsiaLaw
Asia-Pacific 2022: Top Tier
for Tax, TMT, Investment Funds, Private
Equity, Labour and Employment, Dispute
Resolution
FT Innovative
Lawyers Asia Pacific 2019 Awards:
NDA ranked 2nd in the Most Innovative
Law Firm category (Asia-Pacific Headquartered)
RSG-Financial
Times: India’s Most Innovative
Law Firm 2019, 2017, 2016, 2015, 2014
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We aspire
to build the next generation of socially-conscious
lawyers who strive to make the world
a better place.
At NDA, there is
always room for the right people! A
platform for self-driven intrapreneurs
solving complex problems through research,
academics, thought leadership and innovation,
we are a community of non-hierarchical,
non-siloed professionals doing extraordinary
work for the world’s best clients.
We welcome the industry’s
best talent - inspired, competent, proactive
and research minded- with credentials
in Corporate Law (in particular M&A/PE
Fund Formation), International Tax,
TMT and cross-border dispute resolution.
Write to
happiness@nishithdesai.com
To learn more about
us
Click here.
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