Govt Working on Defining 'Accredited Investors', Who'll Get Tax Incentives for Investing in Startups
1 April 2019 9:51 PM GMT
The Department for Promotion of Industry and Internal Trade (DPIIT) is working on a definition of 'accredited investors', who could be provided tax incentives for investments in startups. DPITT (earlier known as DIPP), which works under the commerce and industry ministry, has already prepared a draft definition and
- The Department for Promotion of Industry and Internal Trade (DPIIT) is working on a definition of 'accredited investors', who could be provided tax incentives for investments in startups.
- DPITT (earlier known as DIPP), which works under the commerce and industry ministry, has already prepared a draft definition and is now seeking views of stakeholders.
- These accredited investors, which can include trusts, individuals, family member of a startup and unlisted companies, may get exemption from angel tax under Section 56(2)(viib) of Income Tax Act, 1961, beyond the Rs 25 crore limit, said the officials of DPITT.
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