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CBDT issues new notice on exemption of Angel tax

Updated : May 26, 2018 02:12 PM IST

CBDT said the exemptions will be given on an aggregate amount paid up share capital and share premium, after the proposed issue of share does not exceed Rs 10 crore.
The exemption will also be given to the investors who propose to subscribe for start-up's shares and fulfill the prescribed criteria including a report from a merchant banker, specifying the fair market value (FMV) of shares in accordance with the Income Tax Rule 11 UA.
CBDT issues new notice on exemption of Angel tax

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