Angel Tax provisions relaxed for startups companies for making application for exemption-u/s 56(2)(viib)
April 15, 2018
Income Tax, Start-ups
Angel Tax provisions relaxed for startups. Companies with paid up share capital and share premium after the proposed issue up to 10 crore may apply for exemption-u/s 56(2)(viib) The Ministry of Commerce and Industry, Department of Industrial Policy and Promotion has amended the Notification No. G.S.R. 501(E) dated May 23, 2017. …