2024-07-25 09:46:57 am | Source: BDO India
Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India
Below the Union Budget 2024 Input on Angle Tax by Nitesh Mehta, Partner, M&A Tax and Regulatory Services, BDO India
“Angel tax has been a bone of litigation for many companies especially new age ones. The FM has abolished this tax with effect from this financial year. While the past period litigations could continue, however, with the abolishment of the Angel tax provisions, India Inc is likely to get a sigh of relief from this provision. This proposed amendment would also do away with peculiar situations requiring exact valuation at FMV to meet FEMA and Angel tax provisions, while raising money from non-resident investors.”
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