Budget 2024 abolishes angel tax on startups for all classes of investors

Quick Summary:

It is called angel tax because it significantly affects angel investments in startups.

Ahead of the Budget, DPIIT had recommended removing angel tax.

The provision was initially applicable to local resident investors but its ambit was expanded as part of the government’s anti-tax avoidance move.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Investors Startups investment Budget 2024 Budget and economy Startups Angel tax

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 13:47:18 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 391 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21747935

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