Recent Development Related to the Abolishment of Angel Tax in India:

What is Angel Tax?

The term "Angel Tax" refers to a levy imposed on capital raised by unlisted companies through the issuance of shares to investors. Specifically, it targets the premium paid by investors above the fair market value of shares. This premium is often classified as "income from other sources" and taxed accordingly. Introduced in India in 2012, Angel Tax aimed to curb money laundering and prevent the inflow of unaccounted money. However, it has sparked controversy among startups and investors, who argue that it stifles innovation and fundraising.

Recent Abolishment:

In a move to bolster the Indian startup ecosystem and support innovation, Finance Minister Nirmala Sitharaman proposed the abolishment of Angel Tax for all classes of investors in startups. This decision aims to create a more conducive environment for entrepreneurial growth and encourage investment in early-stage companies.

Stay tuned for further updates and insights! 🌟

🇮🇳💼.

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