The demand was raised under Section 56(2)(viib) of the Income Tax Act on account of the addition to the income after the assessee had issue...

Union Budget 2024-25: Finance Minister Nirmala Sitharaman on Tuesday proposed to abolish the angel tax for all investor classes while prese...

This means startups registered by the DPIIT Start-ups will not face tax verification on account of angel taxation in case they are picked u...

The government's recent decision to give relief to start-ups on assessment of angel tax notices would provide a safeguard to them and promo...

Exemption from angel tax even if assessment order was passed before February 19.

CBDT said that no verification will be done by an assessing officer if a startup has been recognised by the DPIIT and the case is selected ...

The move follows finance minister Nirmala Sitharaman’s assurance in her budget speech that the CBDT will take steps to address issues faced...

The government will ensure that no inquiry or verification in pending cases can be carried out by the assessing officer without obtaining a...

Notably, the tax was introduced to prevent and detect money laundering practices and also catch bogus startups.

IVCA wants that all startups should have a blanket exemption from income tax section that triggered angel tax. It suggested that this shoul...

Officials not to press for payment until case is decided at the first stage of appeal

Changes notified on Wednesday provide a simpler mechanism to claim exemption from the tax for previous and future investments.

This follows a high-profile meeting last Friday b/w the Dept of Revenue, DIPP and CBDT, following concerns over the large number of tax dem...

The Department of Industrial Policy and Promotion last month, which said that the share capital and share premium of the startup should not...

Appeals by startups are “under active consideration and likely to be disposed off expeditiously,” a CBDT spokesperson said in an email repl...

Introduced by then FM Pranab Mukherjee in 2012, angel tax is applicable on the capital raised by unlisted cos from any individual against a...

Currently, angel tax is applicable to individual investors, while VC funds are exempted. However, angel investors are not recognised as ven...