New Delhi: In a bid to ease taxation complexities of start-up firms, the government is mulling an administrative mechanism to resolve the legacy issues and it also said that there should not be any cause for friction or concern in the minds of start-ups in the country.
Central Board of Direct Taxes (CBDT) Chairman PC Mody said on Tuesday, "Startups should not have any concern related to taxation and the government is putting in place an administrative mechanism to resolve the legacy issues."
The Budget proposed a number of measures to resolve the problems being faced by start-ups with regard to their initial funding, called Angel Tax, their certification of investors.
"In future, there should not be any cause for friction or concern in the minds of startups. The legacy issues are being dealt with separately. Those are more of administrative nature, we are already working on that," Mody said.
