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Angel Tax - CBDT’s relief for startups

January 11, 2019[2019] 101 143 (Article)
The Finance Act, 2012 had introduced subsection (viib) in section 56(2) of the Income-tax Act, 1961 (Act) w.e.f. 1-4-2013 which provides for treating ‘income from other sources’, the premium received by a Company in which public is not substantially interested, over and above the fair market value of the shares on their transfer.
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