Important Facts For Prelims
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- 31 Aug 2019
- 1 min read
Recently the Finance Minister announced the constitution of Start-up cells to address the specific problems of the start-ups.
- This comes after the withdrawal of Angel Tax provisions for Start-ups and their investors.
- For mitigating the genuine difficulties of Start-ups, a dedicated cell was set up under the Central Board of Direct Taxes (CBDT).
- The Cell will work towards redressal of grievances & tax-related issues with respect to the administration of the Income-tax Act, 1961.
- Start-up entities can directly approach the Cell for the speedy resolution of their grievances.
- The move was taken as a part of several economic measures to boost the economy.