Startups write to PM Narendra Modi for abolition of tax on angel investments

The remedial measures available are not timely or viable for them, the letter noted adding that some startups have even been forced to shutdown due to it.

Startups write to PM Narendra Modi for abolition
ISPIRT further said if abolishing angel tax or Section 56(2)(viib) altogether is not possible immediately, then to safeguard genuine investments in startups, it should be modified. Representational Image, source: Reuters

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