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Friday, September 8, 2023

Assessee company needs to prove investor credentials: Income tax dept

The income tax department in India has stated that the burden of proof to establish the creditworthiness of an investor lies with the company being assessed. This comes after several startups, including those in the portfolio of BharatPe co-founder Ashneer Grover, received notices from the tax department requesting information about shareholders and their income tax returns.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A1qmEJh

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