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Assessee company needs to prove investor credentials: Income tax dept

IndiaTimes Friday, 8 September 2023
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.
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