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RSS FeedsIndia redefines `startups` to provide young companies relief from angel tax
(WorldNews China)

 
 

20 february 2019 05:35:15

 
India redefines `startups` to provide young companies relief from angel tax
(WorldNews China)
 


The Narendra Modi government has finally delivered on its promise to Indian startups. The commerce ministry yesterday (Feb. 19) notified several measures to simplify the process of exempting startups from angel tax, levied when a privately-held company raises funds at a rate higher than its “fair valuation.” Currently, it is applied at over 30% in India. Among other things, the government shall now consider an entity as a startup for up to 10 years after its incorporation as compared to seven years earlier, provided its turnover for any one financial year has not exceeded Rs100 crore. A startup must also be...


 
6 viewsCategory: General > Asia > China
 
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