Angel tax likely to be deferred to April 2024, centre proposes amendments to Finance Bill

In a big relief to Indian startups, the centre is likely to defer the Angel tax on non-residents to April 1, 2024. The Centre is learnt to have proposed amendments to the Finance Bill, which will likely be passed in the parliament today.

In the union budget 2023, the government had proposed to amend the angel tax provision or the section 56(2) (viib) of the income tax act in the budget through finance bill.