The Devil on the Angel’s Turf
� ?Where Angels Fear to Tread? is a 1991 British drama film based on the 1905 novel of the same name. Not being a very popular film, its story revolves around a recently widowed lady who is anxious to escape the clutches of her oppressive mother-in-law. While the film doesn?t necessarily hit a chord with [?]
- While the film doesn’t necessarily hit a chord with the public at large, its title and basic storyline bear significant relevance to a hotly contested episode playing out in corporate India.
- It provides a forum where budding entrepreneurs can showcase their talent, innovation and their ability to sell an idea and tap much required domestic and foreign sources of capital (known as angel funding).
- It behoves any nation to encourage and support their innovative and risk-taking breed of entrepreneurs, who often have no track record, but have an ambitious idea that requires careful execution and courageous funding from investors (known as angel investors; due to their intention of willing to fund a venture at its inception without a proven track record).
- The capital which such a start-up seeks to raise initially from angel investors depends upon its perceived valuation.
- In spite of this, regressive provisions within the Income Tax Act such as sections 56 and 68 that give arbitrary and discretionary powers to IT authorities are being encouraged.