Govt likely to announce concessions to protect startups from angel tax, says report
Updated : January 16, 2019 08:20 PM IST
Angel tax is applicable on capital raised by unlisted companies from any entity against an issue of shares in excess of fair market value.
A senior government official familiar with the development told ET that the changes for the same are being finalised and a notification will be issued shortly that will provide a sense of relief to startups who have already received tax demands.
The Department of Industrial Policy Promotion (DIPP) and the Central Board of Direct Taxes (CBDT) are in discussion over the changes that is to be made for the startup taxation regime, the report said.
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