RRB JE practice question
A start-up receives ₹1 crore from an angel investor, but the fair market value of shares is estimated only at ₹60 lakhs. The difference of ₹40 lakhs may be taxed under which section of the Income Tax Act?
From a RRB JE General Awareness practice set · General Awareness
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Correct answer: (C) Section 56 (2) (vii b)
Section 56 (2) (vii b) . The concept of Angel tax was introduced in the union budget 2012, to curb money laundering of funds in the India economy. ‘Angel Tax’ refers to section 56 (2) (vii b) of the Indian Income Tax Act, 1961, wherein the Income Tax Authorities are challenging additional taxes from Start-up Companies who have received financial support from Indian Angel Investors at a valuation higher than what can be ascertained for an early stage start-up venture. Angel investors are wealthy individuals who invest in business ventures and provide capital for startups that need quick funding.
हिंदी में प्रश्न
एक स्टार्ट-अप को एक एंजल निवेशक से ₹1 करोड़ प्राप्त होते हैं, लेकिन शेयरों का उचित बाजार मूल्य केवल ₹60 लाख अनुमानित है। ₹40 लाख के अंतर पर आयकर अधिनियम की किस धारा के तहत कर लगाया जा सकता है?
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सही उत्तर: (C) धारा 56(2)(vii b)
Section 56 (2) (vii b) . The concept of Angel tax was introduced in the union budget 2012, to curb money laundering of funds in the India economy. ‘Angel Tax’ refers to section 56 (2) (vii b) of the Indian Income Tax Act, 1961, wherein the Income Tax Authorities are challenging additional taxes from Start-up Companies who have received financial support from Indian Angel Investors at a valuation higher than what can be ascertained for an early stage start-up venture. Angel investors are wealthy individuals who invest in business ventures and provide capital for startups that need quick funding.
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