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CBDT constitutes special cell to redress grievances of start-ups

ANI | Updated: Aug 30, 2019 21:46 IST

New Delhi [India], Aug 30 (ANI): The Central Board of Direct Taxes (CBDT) on Friday constituted a special cell to redress the grievances of start-ups and mitigate their tax-related issues.
"In order to redress grievances and address various tax-related issues in the cases of Start-ups, a Start-up Cell has been constituted," a CBDT notification said.
The five-member cell will be led by the member (Income Tax and Computerisation) of the board.
"The Cell will work towards redressal of grievances and mitigate tax-related issues in case of Start-up entities with respect to administration of the Income-tax Act, 1961," the notification said.
It also mentioned Finance Minister Nirmala Sitharaman's recent announcement to withdraw the angel tax.
"One of the measures pertaining to taxation announced by the Finance Minister Nirmala Sitharaman as part of the several measures to boost the economy was the withdrawal of 'Angel Tax' provisions for Start-ups and their investors," it added.
The move comes in line with the CBDT's initiatives to ease the compliance issues pertaining to start-ups. (ANI)