{"id":22992,"date":"2019-08-13T18:46:54","date_gmt":"2019-08-13T13:16:54","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=22992"},"modified":"2020-08-26T17:33:53","modified_gmt":"2020-08-26T12:03:53","slug":"angel-tax-assessment-process-simplified-by-cbdt","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/angel-tax-assessment-process-simplified-by-cbdt\/","title":{"rendered":"Angel Tax- Assessment process simplified by CBDT"},"content":{"rendered":"<p class=\"has-drop-cap\">In a recent notification, the Central Board of <strong>Direct Taxes<\/strong> has addressed the subject of angel tax and simplified the assessment process for recognized startups. The board in circular dated states that no action will a &nbsp;by assessing officer against startups recognized under the Department for Promotion of Industry and Internal Trade (DPIIT)&nbsp;and if the case is under limited scrutiny norms. It has been notified that action against such entities will be taken only after the approval of the superior officer. know regarding Angel Tax- Assessment process simplified by CBDT following article.<\/p>\n\n\n\n<p><strong><em>The notification regarding Angel Tax<\/em><\/strong> <strong><em>assessment, reads the following orders;<\/em><\/strong><\/p>\n\n\n\n<p>&ldquo;i) In case of Startup Companies recognized by DPIIT which have filed Form No. 2 and whose cases are under &ldquo;limited scrutiny&rdquo; on the single issue of applicability of section 56(2) (viib), the contention of the assessee will be summarily accepted.<\/p>\n\n\n\n<p>ii) In case of <a href=\"https:\/\/enterslice.com\/learning\/startup-india-registration-process-the-complete-guide\/\"><strong>Startup Companies<\/strong><\/a> recognized by the <strong>DPIIT<sup><a href=\"https:\/\/dipp.gov.in\/\">[1]<\/a><\/sup><\/strong>, which have not filed Form No. 2, but have been selected for scrutiny, the inquiry in such cases also will be carried out by the Assessing Officer only after obtaining approval of the supervisory authorities.&rdquo;<\/p>\n\n\n<a href=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/08\/cbdt-simplifies-assessment-process-for-recognized-start-ups.pdf\" class=\"pdfemb-viewer\" style=\"width: 767px; \" data-width=\"767\" data-height=\"max\" data-toolbar=\"bottom\" data-toolbar-fixed=\"on\">cbdt-simplifies-assessment-process-for-recognized-start-ups<br><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/enterslice.com\/learning\/types-income-tax-return-filing-india\/\">All Types of Income Tax Return Filing In India\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent notification, the Central Board of Direct Taxes has addressed the subject of angel tax and simplified the assessment process for recognized startups. The board in circular dated states that no action will a &nbsp;by assessing officer against startups recognized under the Department for Promotion of Industry and Internal Trade (DPIIT)&nbsp;and if the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":22995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[2410,2654],"acf":{"service_id":"47"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Angel Tax Assessment process simplified by CBDT - Enterslice<\/title>\n<meta name=\"description\" content=\"Central Board of Direct Taxes has addressed the subject of angel tax and simplified the assessment process for recognized startups.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/angel-tax-assessment-process-simplified-by-cbdt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Angel Tax Assessment process simplified by CBDT - Enterslice\" \/>\n<meta property=\"og:description\" content=\"Central Board of Direct Taxes has addressed the subject of angel tax and simplified the assessment process for recognized startups.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/angel-tax-assessment-process-simplified-by-cbdt\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-13T13:16:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-08-26T12:03:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/08\/CBDT-Assessment-process-simplified-for-Startups.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Akash Dubey","authorImageUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/04\/DSC_04891.jpg","authorDescription":"Akash Dubey is a Law Graduate and works as an\r\nAdvisor at Enterslice. He is proficient in Legal\r\nand Financial Advisory. His expertise in the\r\nskills of Legal and Financial Research is an aid\r\nto his strengths as an Advisor.","postViews":392,"readingTime":1,"nextPost":{"id":22943,"slug":"operating-cycle-accounts-receivable-service"},"prevPost":{"id":22941,"slug":"how-blockchain-technology-will-revolutionize-finance-and-auditing"},"featuredMediaUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/08\/CBDT-Assessment-process-simplified-for-Startups.jpg","postTerms":"Latest News","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/22992"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=22992"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/22992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/22995"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=22992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/categories?post=22992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/tags?post=22992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}