CBDT: Issues fresh 'angel tax' notification pursuant to recent DPIIT notification, applicable from February 19, 2019

Mar 06,2019

CBDT issues fresh notification with regards to 'angel-tax' exemption, in supersession of its May 24, 2018 notification; CBDT notification is issued pursuant to DPIIT notification dated February 19, 2019 granting further relief to angel investors; CBDT's fresh notification states that the provisions of Sec. 56(2)(viib) shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the said consideration has...

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