The startups that have received the angle tax notices are likely to get some relief this week, reported The Economic Times.

This will apply to the situation in which valuations were challenged or the source of funding was questioned, the report said citing two people with direct knowledge of the matter.

As per the report, the Central Board of Direct Taxes (CBDT) is planning to issue a notification asking tax officers to "accept valuation certificates" submitted by the startups.

The development comes after the tax department questioned increasing valuations even when revenue is falling or is remaining stagnant.

The revenue department, the report said, currently deems capital in excess of fair market value as 'other income,' which is taxable at 30 percent, said the report.