Angle Tax - Start-ups Recognized by DPIIT - Provision of section 56(2)(viib) of IT Act 1961, shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares in the case of Startup, subject to conditions - Supersession Notification No. 13/2019 dated 5th March 2019

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..... STRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 30/2023 New Delhi, the 24th May, 2023 S.O. 2275(E).--In exercise of the powers conferred by clause (ii) of the first proviso to clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of Government of India in the Ministry of Finance, .....

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..... nd Internal Trade and published in the Gazette of India, Extraordinary, Part-II, section 3, Sub-Section (i) on 19th February, 2019 and files the declaration referred to in para 5 of the said notification of the Department for Promotion of Industry and Internal Trade. 2. This notification shall be deemed to have come into force from the 1st day of April 2023. [F. No. 370142/9/2023-TPL (Part-I)] .....

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