The government has given Angel Tax exemption to 541 startups, according to DPIIT secretary. Out of 577 angel tax exemption applications submitted to CBDT, 36 applications were incomplete and yet to be approved, said Ramesh Abhishek in a tweet. Earlier in February, CBDT and DPIIT had amended the framework to help startups from Angel Tax.
For Angel Tax exemption, under the new framework startups can submit to income tax authorities locally and get relief. (Source)
Jitendra has spent more than seven years in journalism. He had been founding-member of online media platforms such as Newzstreet, Indiasamvad and iamwire. Prior to that he did long, deeply reported feature stories for The Indian Express and handled desk at IANS. Among the things that excite him is wonder about life and its creative potential in every sphere.
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