Ashneer Grover calls out officials for asking for ITR of shareholders

Ashneer Grover, co-founder of fintech platform BharatPe, on Friday, took to X (formerly Twitter) to express his concerns regarding income tax notices being sent to several startups, including some in his own portfolio.

In his tweet, Grover stated that a few startups had received income tax notices asking them to furnish information about shareholders. The ex-Shark Tank India judge highlighted the part of the notice that asked startup companies to furnish three-year income tax returns (ITR) of all shareholders.

Grover wrote: “Bahut interesting hai (It’s an interesting situation)- they are asking startup companies to furnish 3 year ITR of all shareholders. 1) How and why will companies have ITR of shareholders ! 2) Why would a shareholder/individual share their ITR with a private company ?”