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.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more