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Nirmala Sitharaman Economy Booster Highlights: FPI surcharge goes, income tax notices get computerised

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 Finance Minister Nirmala Sitharaman Press Meet Highlights: In a much needed relief to the FPIs, the government on Friday withdrew the enhanced surcharge on foreign investors. It comes along with a host of other measures related with angel tax, bank recapitalisation and income tax notices. The government has also announced that no angel tax would be imposed on startups and their investors  if registered with the DPIIT.  From October 1, all income-tax notices will be sent only via a centralised computer system, and will be disposed off within three months. "No taxpayer will have anything to do with any notice three months after the date of the issue," Finance Minister Nirmala Sitharaman said in the press briefing. The government also announced that it will release upfront the Rs 70,000 crore of funds under bank recap plan announced earlier in the budget.