Swipe through the latest business and wealth clues with our android app

CBDT directs tax officials to resolve angel tax issues at the earliest

The CBDT has asked tax officials to avoid taking “coercive measures” against companies that have received angel tax notices. The department also asked Income Tax Commissioners to resolve disputes with startups on a priority basis. More than 2,000 start-ups have received income tax notices under section 56(2)(viib) and 68 of the Income Tax relating to taxing of high share premiums received and unexplained cash credit respectively. Tax officers had frozen the bank accounts of startups in cases where notices were issued. 

Read More at The Economic Times News date : 14 Mar 2019, Thursday

©2019 TheNewsClues