On a recent circular, The tax department exempted angel investors from income tax on their investments in start-ups with effect from April 11. The tax concessions are subject to certain conditions laid down by the Department of Industrial Policy and Promotion last month, which said that the share capital and share premium of the start-up should not exceed Rs 10 crore after such investments.
Amit Agarwal, Partner shares his views on aforementioned story for PTI.
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