IT officials to need superior’s approval to prob startups for Angel Tax
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In a relief for many startups facing any angle tax issue, The Central Board of Direct Taxes (CBDT) has clarified that IT officials will need their superior’s approval to scrutinize startups over angel tax and no verification would be required by an assessing officer if a startup has been recognized by the DPIIT. This new circular came in line with Finance Minister Nirmala Sitharaman’s budget speech in Feb.