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The Department for Promotion of Industry and Internal Trade (DPIIT) has requested the government to remove the angel tax on startups ahead of the upcoming Budget. "We had recommended this in the past as well," DPIIT Secretary Rajesh Kumar Singh said. Angel tax is levied when an unlisted company issues shares at a valuation higher than the fair market value.

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Startup Recognition in India ' (under DPIIT โ Department for Promotion of Industry and Internal Trade) ๐ . Benefits After DPIIT Recognition: Tax exemption for 3 years under section 80IAC. Exemption from Angel Tax under section 56(2)(viib). Easie
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Mumbai Surpasses Bengaluru in Funding: In a significant shift, Mumbai emerged as India's most-funded startup hub in 2024, raising $3.67 billion across 175 deals, slightly surpassing Bengaluru's $3.43 billion from 285 deals. This change was largely at
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As of June 30, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 1.40 lakh entities as startups in India. ๐จ๐ฅ According to a written response by the Union Minister of State for Commerce and Industry, Jitin Pra
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๐ Section 80-IAC: Tax Exemption for Startups! ๐ก If you're a startup recognized by DPIIT, you can claim a 100% tax deduction on profits for 3 consecutive years out of the first 10 years! ๐ ๐ Eligibility: โ Incorporated as a Private Ltd. Co. or L
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Essential Tax Tips Every Indian Startup Shld Know- Navigating taxes can be tricky for startups, but mastering them is crucial for growth. Hereโs what every Indian entrepreneur shld keep in mind: โขStartup India Exemptions: If your startup is recognize
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This is bad ๐ฅ This might be the end of BYJUs A total of 1,887 creditors have filed claims amounting to $1.5 billion against Byju's, with most claims still under review. Notably, Indian tax authorities are seeking $101 million in dues from the tro
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