Angel Tax Removal: A Major Win for the Startup Ecosystem
Angel tax abolishment has been a huge win for the entire startup ecosystem and stakeholders relying on the same. It has brought cheers to many young talents as well as industry stalwarts.
Hailing the removal of the angel tax, Dr. Saurabh Srivastava, Co-founder of IAN Group (formerly Indian Angel Network), said, “I have lost count of the number of meetings at all levels of government that Padmaja Ruparel and I have done over the years, the various recommendations put forward etc. But just when we were losing hope, the government has delivered.”
“This move could transform the startup funding landscape in the coming years with the financial barrier removed. Both domestic and foreign investors would have the freedom to support Indian start-ups and investments in innovative startups,” added Dr. Saurabh Srivastava.
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