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Investor community and startups have largely welcomed the government’s notification asking the Income Tax department not to use any coercive measures for the recovery of 'angel tax’ from startups, though they feel it’s only an interim measure.
The Revenue Department, in a notification, has asked the Income Tax (I-T) department to take “no coercive measures to recover the outstanding demand” in those cases where they had made additions to the income of companies falling under the definition of startups given by the Department of Industrial Policy and Promotion (DIPP).
The department has also asked for necessary steps to
The Revenue Department, in a notification, has asked the Income Tax (I-T) department to take “no coercive measures to recover the outstanding demand” in those cases where they had made additions to the income of companies falling under the definition of startups given by the Department of Industrial Policy and Promotion (DIPP).
The department has also asked for necessary steps to
