Piyush Goyal informs Parliament - CBDT exempts about 702 startups from Angel Tax
R Sinduja
News Editor
Image Credit: shortpedia
Piyush Goyal informed the parliament that 702 startups are exempted from the angel tax by CBDT, under Section 56 (2) (vii) of Income Tax Act. He added- DPIIT got 944 applications for angel tax exemption. Out of which 39 were incomplete & 203 were a repeat or modified applications. DPIIT issued notice- al startups were allowed to receive angel tax exemption regardless of their share premium vales, does not exceed Rs 25 crore.
