Business Standard

Finance Bill: No respite for startups as Angel Tax effective from Apr 2024

Previously, many stakeholders had suggested the exclusion of investments from foreign companies in startups from the Angel Tax regime

Angel Tax
Premium

Representative image

BS Web Team New Delhi
The Indian government will implement angel tax from April 1, 2024. The Centre has not taken back the proposal to implement the angel tax on startups as the Finance Bill 2023 got passed in Parliament on Friday.  

Previously, many stakeholders had suggested the exclusion of investments from foreign companies in startups from the Angel Tax regime. However, the Finance Bill 2023 states that there is no change in its intent to implement angel tax.

According to the finance ministry's background note, these changes will be for the assessment year 2024-25 and for financial year 2023-24.

"Angel tax-deferred to 1st April

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 24 2023 | 7:17 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com