CBDT modifies 'angel tax' exemption notification pursuant to revised DIPP notification of Jan'19

Feb 01,2019

CBDT modifies 'angel tax' exemption notification dated May 24, 2018 pursuant to revised DIPP notification (dated January 16, 2019); CBDT's modified notification states that the provisions of Sec. 56(2)(viib) shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if such issue of shares is approved by the CBDT under modified para 4(3) vide DIPP notification of January, 2019; States that “This notific...


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