Start-ups can now relax a bit after DIPP made changes in Angel Tax
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The start-ups were asking the DIPP to take immediate action over Angel Tax issue and here are the changes, done by the Department of Industrial Policy and Promotion over their request, coming as a relief for them. As per the new changes, startups no more require a valuation certificate from a merchant banker defining the fair market value of shares. Also, these applications for exemption can be submitted to the DIPP.