CBDT notifies rules for angel tax : The Tribune India

Join Whatsapp Channel

CBDT notifies rules for angel tax

CBDT notifies rules for angel tax

Startups registered by the DPIIT are exempt from the new norms.



PTI

New Delhi, September 26

The Income Tax Department has notified new angel tax rules that comprise a mechanism to evaluate the shares issued by unlisted startups to investors.

While previously the angel tax — a tax levied on capital received on the sale of shares of a startup above the fair market value — applied only to local investors, the Budget for 2023-24 fiscal (April 2023 to March 2024) widened its ambit to include foreign investments.

As per the Budget, the excess premium will be considered as 'income from sources' and taxed at the rate of up to over 30 per cent. However, startups registered by the DPIIT are exempt from the new norms.

The Central Board of Direct Taxes (CBDT) in a September 25 notification spelled out the valuation methodology.


Top News

Not against Muslims, but Congress’s appeasement politics: PM Modi

Not against Muslims, but Congress’s appeasement politics: PM Modi

Says NDA set for historic victory, INDIA bloc to crumble aft...

2 doctors arrested for manipulating blood report of teen in Pune Porsche accident case: Report

Pune car crash: Juvenile’s blood sample thrown away, replaced on directions of doctor, say police

The juvenile's father had called the doctor and offered him ...

Arvind Kejriwal moves Supreme Court; requests to extend interim bail by 7 days on health grounds

Arvind Kejriwal moves Supreme Court for extension of his interim bail by a week on medical grounds

The top court had on May 10 granted 21-day interim bail to t...


Cities

View All