Also, Sitharaman did away with angel tax and equalisation levy. She also announced a comprehensive review of the decades-old Income Tax Act in six months.
The end of angel tax for all investor classes will spur investment in startups, a sector that has been starved of funds since the onset of the so-called funding winter. Angel tax is applicable when shares issued by a privately held company exceed their fair value. The tax was introduced in the 2012 Budget to arrest fund laundering for domestic investors. Later, it was extended to foreign investors.
The proposed amendments to the angel tax regime will be made effective from April 1, 2025, and will be applicable from assessment year 2025-26.
この記事は Business Standard の July 24, 2024 版に掲載されています。
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この記事は Business Standard の July 24, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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