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Upfront Capital Infusion For Government Banks: Sitharaman


Finance Minister, Nirmala Sitharaman today said that the government will release Rs 70,000 crore upfront state-run banks, as announced in the budget. "This will benefit all Corporate and retail borrowers."

The government also announced some relief for Angel tax.

Upfront Capital Infusion For Government Banks: Sitharaman

Angel Tax Relief under Section 56 2(B) of the Income Tax Act, related to the angel tax, will not be applicable to startups registered with the DPIIT. A dedicated cell under the CBDT will address any income tax problems faced by startups.

Read more about: finance minister income tax
Story first published: Friday, August 23, 2019, 17:59 [IST]
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