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The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.
Posted inFunding News

In a significant move to boost the startup ecosystem in India, Finance Minister Nirmala Sitharaman has announced the abolition of the angel tax, officially known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012.

Posted by By The Entrepreneur India Team 23 July 2024
Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance…
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  • BacAlt Biosciences Secures Game-Changing INR 18 Cr to Pioneer Sustainable Biopolymers
  • India’s Real Estate Market Set for $1 Trillion Surge by 2030: How Aawas Yojana is Poised to Lead the PropTech–FinTech Revolution
  • Aawas Yojana Launches “30-Second Home Bet”: A Nationwide Movement to Turn Idle Properties into Dream Homes
  • Aawas Yojana Launches ₹49 Onwards Plans to Democratize Housing: Startup from Dehradun Disrupts India’s Real Estate
  • Microsoft’s Bold Expansion Under Satya Nadella: Secures Massive 2.6 Lakh Sq Ft Hyderabad Office for Hefty ₹5.4 Crore Monthly Rent
  • Spring House Workspaces Launches it’s 5th center in West Delhi, Janakpuri
  • Aawas Yojana: India’s Zomato-Blinkit-Zepto Moment in Real Estate
  • From Vridhi to Aawas Yojana: Six Co-Founders Secure Venture Capital for India’s First Housing-Tech Unicorn from Uttarakhand
  • 1Kosmos Raises $57M in Series B Funding to Fuel Global Growth for Its Identity Verification and Password less Authentication Platform
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