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Angel Tax

Government grants Angel Tax exemption to 541 startups

Angel Tax

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)

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