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CBDT constitutes startup cell to redress grievances and address tax issues

The Central Board of Direct Taxes (CBDT) has constituted a startup cell to redress grievances and address various tax-related issues in order to further dispel the fears surrounding the Angel Tax for startups. The CBDT has also reiterated the measures the body has taken to allow new startups to flourish without the hinderance of unjust taxation. The finance minister stated that Angel Tax would not apply to startups.