New Delhi: In a major relief to entrepreneurs and startups, Finance Minister Nirmala Sitharaman on Friday announced that the ‘angel tax’ provision will be withdrawn for startups and their investors. Announcing measures to boost the subdued economy, the Finance Minister said that Section 56 2(b) of the Income Tax Act will not be applicable on […]
Tag: Angel Tax
No angel tax scrutiny for start-ups if requisite declarations made: FM
New Delhi: In a huge relief for the start-ups community, Finance Minister Nirmala Sitharaman on Friday said the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of angel tax scrutiny. “The issue of establishing identity of the investor and source of his funds […]