Home / Business / Union Budget 2019-20: Relief for Start-ups

Union Budget 2019-20: Relief for Start-ups

Capital gains exemptions from sale of residential house for investment in start-ups extended till FY21.

‘Angel tax’ issue resolved- start-ups and investors filing requisite declarations and providing information in their returns not to be subjected to any kind of scrutiny in respect of valuations of share premiums.

Funds raised by start-ups to not require scrutiny from Income Tax Department

E-verification mechanism for establishing identity of the investor and source of funds.

Special administrative arrangements for pending assessments and grievance redressal

No inquiry in such cases by the Assessing Officer without obtaining approval of the supervisory officer.

No scrutiny of valuation of shares issued to Category-II Alternative Investment Funds.

Relaxation of conditions for carry forward and set off of losses.

Loading...
Loading...