Finance Minister

The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.

In a strategic move to enhance the startup ecosystem in India, Finance Minister Nirmala Sitharaman has announced the abolition of the angel tax.

Tuesday, July 23, 2024 9:36 pm Startup Magazine Team 0

Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. […]