# angel tax
2 posts in `angel tax` tag
Income Tax Regulations Startup Investment Angel Tax
This change is a result of the 2023 Finance Act, which amended the Income-tax Act, 1961, to include consideration received from non-residents for the issuance of shares by unlisted companies under section 56(2)(viib).
CBDT proposes changes to Rule 11UA
To bring the consideration received from non-residents for the issuance of shares under the purview of section 56(2)(viib) of the Income-tax Act, 1961 (the Act), which states that if the consideration for the issuance of shares exceeds the Fair Market Value (FMV) of the shares, it shall be chargeable to income-tax under the head “Income from other sources,” an amendment has been made to the Finance Act, 2023.