CBDT Notifies Countries Exempted From Angel Tax Investment In Startups Funding Winter

Startups all over the world including India are still struggling with the problem of funding (Startups Funding Winter). Meanwhile, startups in India have received good news on this front. CBDT has released a list of 21 such countries, from where Startup Angel Tax will not be levied on investment in startups.

Exemption on investment in such startups

The 21 countries to which the Central Board of Direct Taxes (CBDT) has given this exemption include countries like America, Britain and France. Angel tax will not be applicable on non-resident investment coming from these countries in Indian startups. This exemption will be available on investment in such startup companies, which are not yet listed in the stock markets. Countries like Singapore, Netherlands and Mauritius have been kept out of this exemption.

was proposed in the budget

Presenting the budget in February, Finance Minister Nirmala Sitharaman had proposed to bring foreign investment in unlisted companies under the ambit of angel tax. The CBDT issued a notification in this regard on May 24 regarding investors who would not come under the purview of the provisions related to angel tax. Earlier in the budget proposal, investment in startups recognized by DPIIT (DPIIT) was kept out of the purview of angel tax.

They will get the benefit of exemption

Investors who are now exempt from angel tax include investors registered with SEBI as Category-1 FPIs, endowment funds, pension funds and broad-based pooled investment vehicles. According to the notification, apart from the US, UK and France, Australia, Germany, Spain, Austria, Canada, Czech Republic, Belgium, Denmark, Finland, Israel, Italy, Iceland, Japan, South Korea, Russia, Norway, New Zealand and Sweden Are included.

Changes applicable from April 1

This notification of CBDT has become effective from 1 April 2023. This means that such investments before the issuance of the notification will also get this exemption, which have come after April 1, 2023. However, experts are expressing surprise that countries like Singapore, Ireland, Netherlands and Mauritius have not found a place in this notification, from where India has been getting a major share of FDI.

CBDT has issued this notification regarding exemption from angel tax at a time when startups around the world are facing the problem of shortage in funding, which is being known as funding winter.

read this also: Upper Circuit on NDTV on the third day, Adani Enterprises also made a solid start, see the condition of other stocks

Aadhar Based Payment System To Be Implemented On 100 Per Cent Transactions Of Mgnrega

Government scheme MNREGA (MGNREGA) plays a big role in providing employment in rural areas. However, there has been a continuous ...
Read More

Indian cricket team players Rohit Sharma Anil Kumble Mayank Agarwal Akash Chopra react on train accident

Reaction of cricketers on train accident: A horrific train accident took place in Balasore, Odisha on Friday evening. So far ...
Read More

IPO Market To Get Traction Later This Year With Players Like Tata TVS And Reliance Are In Line

Till a year-and-a-half ago, the IPO market was very buzzing. Every week new IPOs were opening in the market, but ...
Read More

Indian cricket team players Mayank Agarwal and Ashita Sood’s love story

Mayank Agarwal Love Story: Indian cricket team player Mayank Agarwal is celebrating his fifth wedding anniversary. Mayank Agarwal's wife's name ...
Read More

Trending news: Name associated with co-star, then became an unmarried mother, why 50-year-old Sakshi Tanwar did not get married?

Edited by Srishti Srivastava , Navbharat Times , Updated: Jun 3, 2023 at 5:48 pm Related Articles ‘Nattu Kaka was ...
Read More

Rs 280 Cr Vanished In 4B Networks Founder Rahul Yadav Enjoyed Lavish Lifestyle Know Details

Indian startup founder Rahul Yadav: There has been a web of startups in India for the last few years. Nowadays ...
Read More

23 Year Old Young Billionaire Advice People Not To Job Of 9 To Five Know Details | Advice of this 23-year-old millionaire

Young Billionaire Advice: It is the dream of every person that he does not have shortage of money. People work ...
Read More

taylor fritz celebration in gautam gambhir style french open 2023 latest sports news

Taylor Fritz Celebrations at French Open 2023: The French Open 2023 matches are on. In the second round of Men's ...
Read More

CUET PG Admit Card 2023 Released By NTA At cuet.nta.nic.in Download Direct Link Here

NTA Releases CUET PG 2023 Admit Card: National Testing Agency has released the admit card of CUET PG Exam 2023 ...
Read More

WTC Final 2023 Virat Kohli and Cheteshwar Pujara Test Record against Australia

India vs Australia, WTC Final 2023: All the fans are eagerly waiting for the start of the final match of ...
Read More

Leave a Comment