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Angel tax to not impact govt-recognised startups: DPIIT Secy
short by Srishty Choudhury / on Tuesday, 21 February, 2023
The angel tax provision in the Finance Bill will not impact startups in India, Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain said. He said there is a 'clear provision' which says DPIIT-recognised startups are out of the proposal's purview. The angel tax is charged on amounts raised by startups in excess of their fair market value.
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