Making the Indian startup ecosystem thrive | ORF

Making the Indian startup ecosystem thrive | ORF
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  • Despite the government’s Angel Tax, there exists a simmering discontent among Indian startups.
  • Arif Riyanto/Unsplash Angel Tax Atal Innovation Mission Central Board of Direct Taxes Startup India
  • Sensing repercussions the government had promised to ensure that undue distress will not be caused, over section 56 and 68 of the Income Tax Act to authorise assessee officers to tax legal angel money invested in the startups .
  • In an unfortunate incident, the Central Board of Direct Taxes (CBDT) emptied the coffers of two very promising startups — TravelKhana and Babygogo — by deducting Rs 33 lakhs and Rs 72 lakhs respectively from their accounts on account of the Angel Tax.
  • The reality is that over 70% of the Indian startups, that have raised capital, have received one or more notices from the tax department.


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