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Union Finance Minister Nirmala Sitharaman during a post-Budget press conference in New Delhi on July 23, 2024. | Photo Credit: ANI In a major respite for India’s fledgling startups, Union Finance Minister Nirmala Sitharaman, presenting the Union Budget in Parliament on July 23, announced scrapping the contentious Angel Tax on foreign investments received by such…
His party, the Congress, has termed the Budget “nakalchi (copy-paste)”, and Shashi Tharoor, who once ran for the top job in the party, echoed the sentiment and panned it as an “underwhelming” exercise. However, the Thiruvananthapuram MP found a positive too – the abolition of angel tax. Angel tax refers to the income tax that…
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Representational Image New Delhi: In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all classes of investors. Angel tax is levied on the capital raised via the issue of shares by unlisted companies from an Indian investor if the share price of issued shares is seen…
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