In February 2019, the Government of India relaxed the Angel Tax Norms for Start-ups and enhanced the…
The correct choice is: “Rs. 25 Crore” On 19 February 2019 the Department for Promotion of Industry and Internal Trade (DPIIT) relaxed the ‘angel tax’ norms (the tax under…
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In February 2019, the Government of India relaxed the Angel Tax Norms for Start-ups and enhanced the investment limit to:
Answer and explanation
Correct answer A
The correct choice is: “Rs. 25 Crore”
On 19 February 2019 the Department for Promotion of Industry and Internal Trade (DPIIT) relaxed the ‘angel tax’ norms (the tax under Section 56(2)(viib) of the Income-tax Act on share premium received above fair market value). The limit of total investment, including share premium, up to which an eligible start-up is exempt was raised from Rs. 10 crore to Rs. 25 crore.
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