Angle Tax - Investment in start-ups from 21 countries - Provision U/s 56(2)(viib) of IT Act 1961 shall not apply in respect of Exemption from any consideration for issue of shares that exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares - Central Government notifies class or classes of persons https://www.taxtmi.com/notifications?id=140193 The notification exempts specified investor classes from the deeming provision treating excess consideration on share issuance as taxable income: government and government related investors; regulated banks and insurance entities; and resident entities of listed jurisdictions comprising Category I foreign portfolio investors, endowment funds, pension funds, and broad based pooled investment vehicles with over fifty investors that are not hedge or complex strategy funds. en-us Wed, 24 May 2023 00:00:00 +0530 Fri, 02 Jun 2023 15:12:00 +0530 TaxTMI RSS Generator Angle Tax - Investment in start-ups from 21 countries - Provision U/s 56(2)(viib) of IT Act 1961 shall not apply in respect of Exemption from any consideration for issue of shares that exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares - Central Government notifies class or classes of persons https://www.taxtmi.com/notifications?id=140193 The notification exempts specified investor classes from the deeming provision treating excess consideration on share issuance as taxable income: government and government related investors; regulated banks and insurance entities; and resident entities of listed jurisdictions comprising Category I foreign portfolio investors, endowment funds, pension funds, and broad based pooled investment vehicles with over fifty investors that are not hedge or complex strategy funds. Notifications Income Tax Wed, 24 May 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=140193