This Flash News explains a recent Order dated 30
August 2019 issued by the Central Board of Direct Taxes (CBDT) for setting-up
of a dedicated cell for start-ups (“Start-up Cell”) to redress the grievances
and address the various issues under Indian Tax Laws (ITL), including angel
tax. The CBDT Order is issued in light of the announcement made by the Finance
Minister in Budget Speech as also at the press meeting held on 23 August 2019.
The Start-up Cell comprises of the officials from
different hierarchy at CBDT and can be contacted over telephone number
(011-23095479/23093070 (F)) and email id (startupcell.cbdt@gov.in).
The CBDT Order is issued to implement the announcement
made by the Finance Minister in Budget Speech on 5 July 2019 as also at the
press meeting held on 23 August 2019 and is the latest in a series of proactive
steps undertaken by CBDT to provide impetus to Start-up industry and clarify
the ambiguities under the ITL.
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