Startup backers told to share investment information

April 24, 2025

, By The Economic Times

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The income tax department has sent notices to many startup funders and promoters, seeking details of certain investments and tax returns for three years preceding the year in which the money was infused. These are largely startups not recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) or cases where the I-T department suspects investments have been used for “roundtripping” of funds, ET has learnt.

These notices were issued in the first two weeks of April under Section 68 of the Income Tax Act. This section is…

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Startup backers told to share investment information

April 24, 2025

, Published By The Economic Times

The income tax department has sent notices to many startup funders and promoters, seeking details of certain investments and tax returns for three years preceding the year in which the money was infused. These are largely startups not recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) or cases where the I-T department suspects investments have been used for “roundtripping” of funds, ET has learnt.

These notices were issued in the first two weeks of April under Section 68 of the Income Tax Act. This section is…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Cantor joins hand with SoftBank, Tether for $3.6 billion crypto venture

Next News

India ready to recreate UPI magic with AI

The Economic Times

More like this

Popular

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