CBDT constitutes Start-up Cell for redressal of grievances of Start-ups

Speed Post News Network

New Delhi : The CBDT on August 30, 2019, constituted a Start-up Cell to redress grievances and address various tax related issues of Start-ups. Member (IT &C), CBDT, is the Chairman of the five-member Cell. The Cell will work towards redressal of grievances and mitigate tax-related issues in case of Start-up entities with respect to administration of the Income-tax Act, 1961.

The Cell will also be accessible telephonically on 011-23095479 /23093070 (F). Start-up entities can approach the Cell for speedy resolution of their grievances. This initiative is the latest amongst the recent initiatives taken by CBDT to further ease the compliance issues pertaining to Start-ups, according to a PIB release.

One of the measures pertaining to taxation announced by Union Finance Minister as part of the several measures to boost the economy was the withdrawal of ‘Angel Tax’ provisions for Start-ups and their investors. As part of the measures for mitigating the genuine difficulties of Start-ups, it was decided that a dedicated cell would be set up under a Member of CBDT for addressing the specific problems of Start-ups.