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  • Mar 08, 2019
  • SC directions may disarm CBDT concession to start-ups

    Even though the Central Board of Direct Taxes (CBDT) wants to relax its regime for start-ups to accept Rs.25-crore investment from “angel investors”, the Supreme Court has advised “careful scrutiny” in the practice of conversion of un-accounted money particularly so in the case of private placement of shares. The CBDT just days ago allowed start-ups to avail full angel tax concession on investments worth up to Rs.25 crore from an earlier set threshold of Rs.10 crore.