Congress Will Deal With Angel Tax, Ecommerce Policy Issues, Says Rahul Gandhi
19 March 2019 11:08 AM IST
AICC president, Rahul Gandhi made the statement while addressing entrepreneurs during the Indiaprenuer event in Bengaluru.
- While addressing entrepreneurs in Bengaluru, All India Congress Committee (AICC) president Rahul Gandhi said that his party will do away with angel tax if voted to power.
- Gandhi’s statement came as a response to an angel investor who said that the entrepreneur’s community is being treated like tax evaders while notices are being sent to the companies they are investing in, during the Indiaprenuer event held on March 18.
- According to the angel tax law, startups are to pay around 30% of angel tax on investments made by external investors.
- Earlier this month, The Central Board of Direct Taxes (CBDT) had said that startups which received assessment notices under Section 56(2)(viib) of the Income Tax Act (I-T Act) will be exempt from the tax only if they comply with the February 19 notification.
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