DIPP to hold discussions on with start-ups, angel investors on Feb 4 on angel tax issue
The Department of Industrial Policy and Promotion (DIPP) will hold discussions with different stakeholders, including start-ups and angel investors, on the taxation issue being faced by the budding entrepreneurs on February 4, an official said. The
- DIPP to hold discussions on with start-ups, angel investors on Feb 4 on angel tax issue The Department of Industrial Policy and Promotion (DIPP) will hold discussions with different stakeholders, including start-ups and angel investors, on the taxation issue being faced by the budding entrepreneurs on February 4, an official said.
- The meeting assumes significance as several start-ups have claimed that they have received income tax notices on angel investments.
- The move comes against the backdrop of various start-up founders claiming that they have received notices under Section 56(2) (viib) of the Income Tax Act from the I-T department to pay taxes on angel funds raised by them.