Diritto ed Economia dell'ImpresaISSN 2499-3158
G. Giappichelli Editore

15/05/2019 - India: exemption from the Angel Tax for start-ups

argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: Angel Tax for start-ups

Among the recent sensational protests on the hot topic of the Angel Tax, the Department for Promotion of Industry and Internal Trade (DPIIT) (Department for the promotion of industry and internal trade) had recently published a communication (No. GSR 127 (E) of 19 February 2019) which replaced its previous communication. This new communication has further attenuated the applicable criteria for qualifying a start-up and the conditions under which it can benefit from subsidies (DPIIT communication). Following this, and in line with the past trend, the Central Board of Direct Tax (CBDT) (Central Board of Direct Taxes) - which is the main body for direct tax administration in India - issued a statement ( 13 of 2019 dated 5 March 2019) (CBDT Communication) in order to allow the Angel tax not to be applied to start-ups recognized by the DPIIT.