Angel tax relief likely for Sebi-enrolled FPIs; rules expected by April 15

The angel tax is on the amount received as more than fair market value as income in the hands of a company

Shrimi Choudhary New Delhi
Tax collections, taxes

The government is likely to exempt certain categories of investors — such as those registered with regulatory authorities and whose chances of circulating unaccounted money are low — from the so-called angel tax.
These could include funds qualifying as foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs) registered with the Securities and Exchange Board of India (Sebi), and entities registered with the Reserve Bank of India, a senior government official privy to the matter told Business Standard.
According to him, the revenue department will notify the regulatory framework, incorporating “a list of exempted entities” along with valuation rules for the newly introduced tax, by April 15.

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First Published: Mar 13 2023 | 6:00 AM IST

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