![The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, to bolster the startup ecosystem and encourage innovation. 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.](https://entrepreneurguild.in/wp-content/uploads/2024/07/download.jpeg)
The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, to bolster the startup ecosystem and encourage innovation.
Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the … Read more