CBDT Announces Angel Tax Verification Exemption for DPIIT Recognized Start-Ups

CBDT Announces Angel Tax - Verification Exemption for DPIIT Recognized Start - Ups - TAXSCAN1

The Central Board of Direct Taxes (CBDT) has announced an exemption from angel tax verification for startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). In accordance with DPIIT’s notification G.S.R. 127(E) on 19th February 2019, startup companies fulfilling certain criteria are exempted from the provisions of section 56(2)(viib) of the…

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