Tag Archives: F. No. 5(4)/2018-SI

Section 56(2)(viib) of Income-tax Act not applicable to startups if share capital upto Rs. 10 crore.

By | April 13, 2018

Department of Industrial Policy and Promotion (DIPP) has issued notification to consider application of Startups for claim of incentive under Section 80-IAC and Section 56(2)(viib) of the Income-tax Act. It has provided that provisions of sec. 56(2)(viib) are not applicable to startups having paid up share capital upto Rs. 10 crore. MINISTRY OF COMMERCE AND… Read More »