Budget 2019: Startup ecosystem hails angel tax respite, EV push, social firms’ listing; TV channel to boost startups in hinterland

Budget 2019-20: The most contentious compliance norm for startups — angel tax has been dealt with strongly by the government in this year’s budget. The budget has absolved startups from facing severe scrutiny from the tax office over the capital raised from angel investors and valuation ascribed to the company during the share sale event.

Angel tax Breather

This is expected to bring huge respite for those startups as well whose tax assessment was pending even as preventing them from ‘harassment’ from tax officials.