New Delhi 23 July 2024

As per news report of NDTV,In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all classes of investors. Angel tax is levied on the capital raised via the issue of shares by unlisted companies from an Indian investor if the share price of issued shares is seen in excess of the fair market value of the company. The excess realization is considered as income and is taxed accordingly.

Source - NDTV

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