Budget Day Input Startup Sector Anish Shah, Partner, M&A Tax and Regulatory Services, BDO India
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Below the Budget Day Input Startup Sector By Anish Shah, Partner, M&A Tax and Regulatory Services, BDO India
“Earlier start-ups were allowed a tax exemption from Angel tax subject to certain conditions such as the amount of share capital and securities premium post fund raise does not exceed INR 25 crs, the end-use restrictions on funds raised by start-ups such as no investments in financial assets etc., and a requirement to submit declaration in Form 2 to DIPP. The abolition of angel tax provisions will now enable start-ups to raise funds without any such conditions and compliance requirements. This amendment is applicable from AY 25-26”
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