News & Media 23rd Jul 2024
The Union government has finally heeded the pleas of startups and investors who have been crying hoarse for 12 years for the removal of the so-called angel tax. It had been introduced as an anti-money laundering measure. While presenting the Union Budget for 2024-25, Hon’ble Finance Minister announced the abolition of the angel tax for all investors and asset classes. Startups and investors have cheered the decision, although there’s the fine print that needs to be reckoned with.
Sneha Shah & Priyamvada C from LiveMint explains this in the recent column, “Why the angel tax needed to be abolished” with detailed insights from our Partner Rahul Charkha.
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