Startups: Accredited investors may get exemption from angel tax
The Department for Promotion of Industry and Internal Trade (DPIIT) is working on the definition, which would be submitted to the finance ministry for approval.
- Startups: Accredited investors may get exemption from angel tax
- Funds received by startups from accredited investors may be exempted from angel tax subject to complying with certain net worth criteria, an official said.
- There should be a linkage between investments and investors' net worth and certain income should be there," the official added.
- It is dubbed as angel tax due to its impact on investments made by angel investors in startup ventures.