Finance Minister states to resolve angel tax issues for startups

Finance Minister, Nirmala Sitharaman said that new companies enrolled with the Department for Promotion of Industry and Internal Trade (DPIIT) will be absolved from angel tax assessment, an enemy of avoidance arrangement in the Income Tax Act. Sitharaman stated, “Section 56 (2)(viib) of the Income Tax Act shall not apply to startups registered with the […] More

source https://www.techiexpert.com/finance-minister-states-to-resolve-angel-tax-issues-for-startups/

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