Current Affairs - Miscellaneous - Discussion

Discussion :: Miscellaneous - Latest Current Affairs (Q.No.378)

378. 

CBDT constitutes a Startup Cell for startups. It consists of how many members?

[A]. 5
[B]. 4
[C]. 8
[D]. 7

Answer: Option A

Explanation:

In a bid to redress the grievances of start-ups and reduce their tax-related issues, the Central Board of Direct Taxes (CBDT) has constituted a 5-member special cell named "Startup Cell" led by the member (Income Tax and Computerisation) of CBDT, which will work towards the issues with relation to angel tax and others in case of Start-up entities with respect to administration of the Income-tax Act, 1961. Start-up firms can approach the special cell for the quick resolution of their grievances. As part of the several measures to boost the economy, the Finance Minister Nirmala Sitharaman had announced creation of such a cell and had also declared exempting startups from the angel tax. The decision comes in line with the CBDT's initiatives to ease the compliance issues pertaining to start-up entities.

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