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News Misc. - Direct Tax

  • Feb 07, 2019
  • Relief for startups: Angel tax exemption limit may be hiked to Rs 25 crore

    In a move aimed at providing succour to start-ups, most of which have been slapped with tax notices, the government is considering raising the funding limit in a start-up that would be exempted from the so-called angel tax to Rs 25 crore from the current Rs 10 crore. Sources told FE that the department for promotion of industry and internal trade (DPIIT) could also recognise companies that are in operation for up to 10 years as start-ups (instead of the current seven years), if they fulfil other criteria on innovation and turnover.