7 ms·
Unnecessarily political comment. That too when the Angel Tax, started by the previous government in 2012 (to curb money laundering) (source: https://m.economict
by hexagone 7y ago
Unnecessarily political comment. That too when the Angel Tax, started by the previous government in 2012 (to curb money laundering) (source: https://m.economictimes.com/news/economy/finance/et-in-the-classroom-what-is-angel-tax/articleshow/67202362.cms https://m.economictimes.com/news/economy/finance/et-in-the-c...), and was ended by this government in 2019 (source: https://techcrunch.com/2019/08/23/india-angel-tax/ https://techcrunch.com/2019/08/23/india-angel-tax/).
- kranner 7y agoAngel Tax was not 'ended'. There are still many conditions under which it is still applicable, governing both who can invest in a startup and how the startup can spend its money. [1] A bigger issue which is still applicable today is that long term capital gains tax on startups and other unlisted companies is still 28.5%, while for listed stocks it is 10%. [2] There are some exemptions announced today for foreign investments until 2024 with a lock-in period of 3 years. [3] [1] https://yourstory.com/2019/08/angel-tax-startups-angel-investors-india-dpiit-nirmala-sitharaman https://yourstory.com/2019/08/angel-tax-startups-angel-inves... [2] https://www.business-standard.com/article/companies/higher-ltcg-tax-spooks-start-up-investors-founders-esop-holders-119071000228_1.html https://www.business-standard.com/article/companies/higher-l... [3] https://www.livemint.com/budget/news/budget-2020-full-text-of-nirmala-sitharaman-s-budget-speech-11580547114996.html https://www.livemint.com/budget/news/budget-2020-full-text-o...