DPIIT to raise startups' concerns on 'fair market value' with FinMin

The Department for Promotion of Industry and Internal Trade (DPIIT) will take up the concerns of startups with the Union finance ministry regarding the discrepancy pertaining to the calculation of ‘fair market value’ under angel tax provisions, a person aware of the matter said.

Startups have raised concerns with the industry department that the calculation of the startups’ fair market value done internationally is different from the income tax department.

 “DPIIT is trying to get them (startups, department of revenue and economic affairs) on the conversation table, tell them that there is a discrepancy and find some solution,” the official