The Angel Tax, a 30 percent tax levied on investments made by external investors in startups, had made life difficult for an entrepreneur with many receiving income tax notices in 2018.
With the news of startups getting a tax exemption of Rs 25 crore, comes in line with the tax exemption given to the startups registered under the government's initiative to promote the said sector, Startup India.
The government, in January, eased the procedure for startups to seek income tax exemption on investments from angel funds.
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