India's Central Board of Direct Taxes has published Notification No. 29/2023 and Notification No. 30/2023 of 24 May 2023, which provide for the implementation of the "angel tax" exemptions for certain non-resident persons and start-ups in relation to Section 56(2)(viib) of the Income-tax Act, 1961 (previous coverage). Section 56(2)(viib) generally provides that consideration received for the issue of shares that exceeds the fair market value of the shares is chargeable to income tax under t…