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Govt may hike funding limit to Rs 25 crore to exempt start-ups from angel tax

The government may hike the funding limit to Rs 25 crore from the present Rs 10 crore to exempt start-ups from the levy of angel tax. In April 2018, the government had said start-ups could apply to an eight-member inter-ministerial board for the tax relief if “the aggregate amount of paid-up share capital and share premium of the start-up after the proposed issue of shares does not exceed Rs 10 crore”. Some experts, however, are sceptical about the move, given the fact that 96% of the 2,396 start-ups that have received tax notices have raised below Rs 10 crore.

Read More at The Financial Express News date : 7 Feb 2019, Thursday

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