ForumIAS LATEST
- 16 June | Failed Before Success: AIR 295 Reveals His UPSC Journey | Click Here to Watch →
- 17 June | How to Write High-Scoring Answers in Hindi Literature Optional | Click Here to Watch →
- 18 June | From Setback to Success: Bhavika Chopra's Rise to AIR 25 | Click Here to Watch →
- 19 June | The Rankforge Challenge (FRC/Tapasya): Truth About UPSC & Coaching by Ayush Sinha | Click Here to Watch →
- 20 June | 150+ Cleared UPSC Prelims from Naugaon, Alwar | The FRC Tapasya Success Story | Click Here to Watch →
- The government has set up a five-member working committee to look into the angel tax issue and come up with guidelines.
- Startups, who rely heavily on this funding, have raised concerns over levying taxes on angel funds under Section 56 of the Income Tax Act.
- Angel funds refers to a money pool created by high net worth individuals or companies (generally called as angel investors), for investing in business startups. They invest at very early-stage of businesses where other institutional investors such as venture capital funds or private equity funds hesitate to invest.
- Introduced by Finance Minister in 2012 under the Finance Act 2012, it is currently pegged at 30.9%
- The government has refused to scrap the tax as it fears misuse for money-laundering by shell companies.
- Government has recently amended the definition of start up to raise (a) age of company from 7 to 10 years and (b) funding above 25 crores as against 10 crores earlier.
