Govt may exempt DPIIT-certified startups from angel tax

Govt may exempt DPIIT-certified startups from angel tax

The government is considering giving complete exemption to startups from angel tax once they are certified by the Commerce and Industry Ministry, a move aimed at helping budding entrepreneurs, official sources said. Various startups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.

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