Angel Tax Abolished | CII Startup Council Chairman On Angel Tax Relief
In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all classes of investors. CII Startup Council Chairman, Kunal Bahl, speaks with NDTV on how this relief will benefit small scale startups, boost investment, and enable growth in the sector.
Angel tax is levied on the capital raised via the issue of shares by unlisted companies from an Indian investor if the share price of issued shares is seen in excess of the fair market value of the company. The excess realization is considered as income and is taxed accordingly.
