Startup Stakeholder Tells CBDT To Fast Track The Clearing Of Section 56 Exemption Certificate
14 March 2019 2:30 AM IST
India?s startup ecosystem stakeholders have demanded the CBDT to expedite the process of clearing the ?Section 56 Exemption Declaration? certificate to the startups.
- India’s startup ecosystem stakeholders have demanded the CBDT to expedite the process of clearing the “Section 56 Exemption Declaration” certificate to the startups.
- This process is important — and we have asked them to bridge this communication gap quickly — so that, whenever a share premium event happens and notice gets generated, the startups who have applied for exemption won’t get a notice under Section 56(2)(viib),” Taparia said.
- According to Taparia, DPIIT had earlier ensured the stakeholders to soon complete their side of processes for the CBDT to issue an acknowledgement to startups stating that they have received their submission.
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