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Budget 2024: Good News for Start-Ups as Nirmala Sitharaman Scraps Angel Tax. Here's What It Means

Budget 2024: Good News for Start-Ups as Nirmala Sitharaman Scraps Angel Tax. Here's What It Means

Finance Minister Nirmala Sitharaman on Tuesday brought cheer for start-ups as she abolished angel tax in the Union Budget 2024-25 for all classes of investors. Check what Raghunandan Saraf, Founder & CEO of Saraf Furniture, said the move would take India “towards positioning as a global hub for innovation”. “This would encourage a more risk capital–friendly milieu and, therefore, more likely home-grown global tech giants, besides reducing technology dependence and boosting economic sovereignty in the long run.”

Read more at:

https://www.news18.com/business/economy/budget-2024-good-news-for-start-ups-as-nirmala-sitharaman-abolishes-angel-tax-heres-what-it-means-8975369.html


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https://www.businesstoday.in/t....echnology/news/story

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Budget 2024: Angel Tax abolished for all tax classes by Finance Minister Nirmala Sitharaman

Budget 2024: Angel tax for all classes of investors to be abolished bolstering Indian start-up eco-system - Raghunandan Saraf, Founder & CEO of Saraf Furniture said, "The removal of Angel Tax represents a strategic move in taking India towards positioning as a global hub for innovation. According to officials, the move is in line with India's ambitious target of becoming a $10 trillion economy by 2030, wherein startups are expected to play a very crucial role. This would encourage a more risk capital–friendly milieu and, therefore, more likely home-grown global tech giants, besides reducing technology dependence and boosting economic sovereignty in the long run.


Read more at:
https://www.businesstoday.in/technology/news/story/budget-2024-angel-tax-abolished-for-all-tax-classes-by-finance-minister-nirmala-sitharaman-438331-2024-07-23


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