ITAT Delhi held Section 68 inapplicable where shares were disclosed in an earlier year and sale proceeds were already offered as income, avoiding double ...

ITAT Delhi held Section 68 cannot apply to sale proceeds of disclosed investments already recorded in books. Revenue's appeals were ...

iSPIRT, a think tank for the Indian software products industry, representing startups has written to Prime Minister’s Office seeking exemption from Section 68 of the Income Tax Act, 1961. iSPIRT in a ...

Several startups have undertaken buybacks recently, mostly in the form of a secondary purchase of Esop shares through an incoming investor. The government announced in the budget for 2024-25 that ...

Section 68 is older than section 56(2)(viib) and exists on the statute books to delve deeper into fraudulent transactions For startups dealing with a notice under Section 68 — do not become a ...

The linkage of Section 68 (unexplained cash credits) to Angel Tax has added a new dimension. Angel Tax (Section 56(2)(viib)) has long been the bane of the Indian startup ecosystem. A Local Circles and ...

DPIIT-registered startups with proper declarations spared from tax inquiries on foreign investments; others may face examination The Central Board of Direct Taxes (CBDT) has clarified that startups ...