The country’s startup community should not worry about taxmen and concentrate on their businesses as concerns related to ‘angel tax’ have been “sorted out”, CBDT chief P.C. Modi said on Saturday. All “legacy issues” related to startups will be resolved through a consultative process and under the strict supervision of senior officers of the tax authority. In her maiden Budget speech on Friday, finance minister Nirmala Sitharaman proposed a number of measures to resolve the problems faced by startups regarding initial funding, generally referred to as the angel tax, their certification and verification of investors.

Publication : Mint

Date : July 6, 2019