Govt eases Angel Tax exemption norms for startups and investors

In a big boost to startups and their investors, the government has liberalised the norms including doing away with the need for an inter-ministerial committee's approval for availing angel tax exemption. "Neither the inter-ministerial board certificate nor a merchant banker certificate is required for angel tax exemption," the Department of Industrial Policy and Promotion (DIPP) said in a series of tweets after a notification.