Nearly 7,000 early-age startups may benefit from new angel tax norms: Report
21 Feb 2019 12:03 AM GMT
To allow free flow of capital into the startup ecosystem, the government introduced changes in the sector on February 19, after pressure from venture capital funds and startups for the past three years
- | Source: Moneycontrol.com Nearly 7,000 early-age startups may benefit from new angel tax norms: Report
- The Department for Promotion of Industry and Internal Trade (DPIIT) has eased angel tax rules, a move which could help as many as 7,000 cash-starved startups, officials told Business Standard .
- Startups can pick significant investments from non-resident Indians and Alternative Investment Funds (AIFs) after these new norms.
- Reports suggest that angel investment in early-age startups in 2018 was nearly $5.5 billion.
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