According to the Budget, any surplus premium will be categorized as ‘income from various sources’ and subject to taxation at rates exceeding 30 percent. Nonetheless, startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) are exempt from these fresh regulations. The Central Board of Direct Taxes (CBDT) outlined the valuation methodology in a notification dated September 25th.
Follow Taxpuram to stay updated with current news
Recent Comments