Angel Tax

Reduction of corporate tax in Budget will promote India-US trade: Ex-CEA

Professor Krishnamurthy Subramanian said that the removal of Angel Tax would be significant for India's startup ecosystem and encourage investments from outside

Removal of angel tax for startups to help attract investors: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Sunday said that removal of angel tax, which was introduced in 2012 by the UPA government, for all classes of investors will help startups attract investments. He also said that the customs duty reduction for gold and silver from 15 per cent to 6 per cent will not only help small artisans but also promote the country's gems and jewellery exports. "The Budget 2024-25 has removed the angel tax and through it, we will be able to attract investors into the country, he said here at a post-budget interaction with the industry. Further Goyal informed that the budget has announced the setting up of 12 industrial townships in the country. He said that one of these will be in Maharashtra and it will help create jobs and a strong ecosystem for the industry and trade. The budget has also announced steps to promote diamond trade. India is a world leader in the diamond cutting and polishing industry, which employs a large number of skilled workers

With no angel tax, startups and investors hope for better funding scenario

While the abolition of the angel tax is a big win for startups and their investors, the ecosystem is not out of the woods yet

Funding winter for startups may end with angel tax abolition: DPIIT Secy

A system of quarterly disbursement is in place for many sectors, except for few, such as food processing, where it is not feasible, he says

Angel tax was on investments, such inflows should not be taxed: DPIIT Secy

Removal of the Angel tax for startups was a long pending issue as this levy was on investment coming into the country and such overseas inflows should not be taxed, a top government official said. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the decision will help in attracting foreign investments, promoting innovation and further strengthening the startup ecosystem of the country, which is the third largest in the world. "So this was an ease of doing business issue as well as a tax issue. Ultimately, it was a tax not on income but on investments and investments should not get taxed, that is the basic idea," Singh told PTI. Giving a big relief to startups, the government on Tuesday announced removal of angel tax for all classes of investors. Angel tax (income tax at the rate of over 30 per cent) refers to the income tax that the government imposes on funding raised by unlisted companies, or startups, if their valuation ...

Budget 2024: Abolition of angel tax a landmark reform, says Usispf

The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem, the US India Strategic and Partnership Forum (USISPF) said Tuesday and applauded the proposal in the Union budget to reduce tax rates for the foreign companies to 35 per cent. India has long been a country of engineering and tech talent, yet there have been gaps in the innovation ecosystem. The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem. This important reform will stimulate increased startup funding from both domestic and international sources, the US India Strategic and Partnership Forum (USISPF) said. Applauding the decision to reduce tax rates for the foreign companies to 35 per cent, the USISPF said this action creates parity between domestic and foreign players and will be an important boost for global investors seeking to shift their international supply chains away from China. At the .

End of angel tax to new I-T slabs: Budget 2024 is political but prudent

This Budget will further energise the aspirations of our neo-middle class. Unprecedented opportunities will be unleashed for our younger generation, says PM Modi

Angel tax abolition significant milestone, will boost startups: IT Minister

The Union Budget announcement of the abolition of the angel tax is a significant milestone that will boost the startup ecosystem in India, IT Minister Ashwini Vaishnaw said on Tuesday. It is a "very good decision" and has been the biggest demand of deep tech startups, Vaishnaw said, adding that the move will spur investment in startups. "Angel tax has been a long-standing issue...deep tech startups had a major issue on how do you do valuation... that point has been addressed with its abolition," he said at a post-budget conference. The minister said India has taken big strides in domestic manufacturing of mobiles, laptops and servers, and the focus now is to encourage component manufacturing. The process of framing rules under the Data Protection Act (DPDP Act) is in the "advanced stage", he said, adding that "we will place rules for public and stakeholder consultation soon".

Union Budget 2024: Angel Tax abolished

Chidambaram, Tharoor laud angel tax end, call Budget 2024 'underwhelming'

Union budget 2024-25: Former Finance Minister P Chidambaram and Congress leader Shashi Tharoor find Budget 2024 presentation full of missed opportunities, compared it Congress manifesto

Don't need angel tax to stop money laundering: FM Sitharaman on Budget 2024

Union Budget 2024-25: Union Finance Minister Nirmala Sitharaman clarifies tax on long-term capital gains, angel tax, and government effort to widen the tax net

Budget 2024: FM's speech sparks praise for employment scheme, angel tax cut

Budget 2024: Industry experts react to Finance Minister's announcement of three employment-linked incentive schemes, abolition of angel tax, among others

From capital gains tax to job creation, understanding Union Budget 2024

Budget 2024: While some of the announcements were on expected lines, many have led to a surprise among investors

Budget 2024: FM Sitharaman announces abolishment of angel tax for startups

The investors in early-stage startups are often referred to as angel investors, hence the name 'angel tax'

Ahead of Union Budget 2024-25, DPIIT recommends angel tax removal

The angel tax is on the amount received by a company above the fair market value as income

Union Budget 2024: Here's what startups, investors expect from Modi 3.0

Expectations rise for investments, simplified tax norms, and sectoral support

Explained: Legal hacks start-up founders can use to save on tax

When you sell a long-term capital asset (like stocks or gold, held for more than 24 months), you typically owe capital gains tax. But Section 54F gives you a chance to avoid that tax altogether

New angel tax regime: No scrutiny of recognised startups, says CBDT

The angel tax is on the amount received by a company above the fair market value as income

Taxing rules

New angel tax norms partially address startup concerns

Angel tax norms: Govt extends safe harbour to convertible preference shares

Issues final valuation rules for funding in unlisted startups for foreign and domestic investors