Start-up Cells | 31 Aug 2019

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.

Source: PIB