Government relaxes angel tax norms, widens age cap of startups to 10 years
Updated : February 19, 2019 01:20 PM IST
The development comes after the government appointed a small working group consisting of angel investors and startup founders earlier this month to look into issues faced by angel investors.
Currently, startups avail tax concession only if total investment, including funding from angel investors, does not exceed Rs 10 crore.
Now a firm can be a startup even if its turnover for any of the financial years since its incorporation hasn’t exceeded Rs 100 crore.