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The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.

Funding Alert

In a significant move to support India’s startup ecosystem, Finance Minister Nirmala Sitharaman announced the scrapping of the angel tax.

Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in…

Top 10 Media and Entertainment Companies in India

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