DIPP Clarification on IT Notice to Angel Investors/Start-ups

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....IPP Clarification on IT Notice to Angel Investors/Start-ups <br>News and Press Release<br>Dated:- 20-12-2018<br><BR>The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news r....

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....eports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in consultation with the Department of Revenue (DoR) has put in place a mechanism since April 2018 to gr....

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....ant exemption from the provisions of Section 56(2)(viib) of the Income Tax Act to genuine investors in recognised start-ups. DIPP has again taken up this matter of issue of IT notices with the DoR so....

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.... that there is no harassment of Angel Investors or Start-ups.Government is committed to protecting bona fide investments into start-ups.<BR> News - Press release - PIB....