Hundreds of Indian startups are still awaiting clarity on angel tax

Hundreds of Indian startups are still awaiting clarity on angel tax
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  • Tax woes continue to haunt Indian entrepreneurs and investors despite efforts by the Narendra Modi government.
  • Earlier this month, India announced several steps to ease angel investment in the country, including giving startups a new definition and reducing their scrutiny.
  • Yet, several entrepreneurs and industry bodies that spoke to Quartz felt that these new rules will only help upcoming ventures, and don’t do much for the existing ones, especially those who have already received tax notices.
  • Over the past several months, many Indian startups have received tax notices from the income tax department.
  • Now, an entity is considered a startup for up to 10 years after its incorporation as compared to seven years earlier.


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