StartUp India Yatra
File Pic: “Startup India Yatra” aims to scout grass root level entrepreneurs in the Tier 2 and Tier 3 towns of India, and the Madhya Pradesh leg saw over 5000 participants. Seen in picture are aspirant entrepreneurs of Madhya Pradesh at Grand Finale in Indore on 3rd August 2018.

DIPP, DoR set to pitch in to safeguard genuine Angel Investors/Start-ups

The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups.
DIPP in consultation with the Department of Revenue (DoR) has put in place a mechanism since April 2018 to grant exemption from the provisions of Section 56(2)(viib) of the Income Tax Act to genuine investors in recognised start-ups.  DIPP has again taken up this matter of issue of IT notices with the DoR so that there is no harassment of Angel Investors or Start-ups.Government is committed to protecting bona fide investments into start-ups.

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