- 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.
Govt Working on Defining 'Accredited Investors', Who'll Get Tax Incentives for Investing in Startups
1 April 2019 9:51 PM GMT