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

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....24-5-2023 Income Tax<br>Income Tax<br>Section 056<br>IT<br>MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 29/2023 New Delhi, the 24th of May, 2023 (INCOME-TAX) S.O. 2274(E).--In exercise of the powers conferred by sub-clause (ii) of the first proviso to clause (viib) of sub-section (2) of Section 56, the Central Government hereby notifies the fol....

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.... (a) entities registered with Securities and Exchange Board of India as Category-I Foreign Portfolio Investors; (b) endowment funds associated with a university, hospitals or charities; (c) pension funds created or established under the law of the foreign country or specified territory; (d) Broad Based Pooled Investment Vehicle or fund where the number of investors in such vehicle or fund is....