Government Plans To Scrap Tax On Seed Funding

With the intention to encourage funding by Indian investors, Government has decided to scrap tax on seed funding provided to startups by Indian angel investors in the upcoming Union Budget.

The tax provision treats infusion of seed money as income and incidentally, India is only country in the world to have such a system.Angel Investor

This tax is taken only from domestic investors and takes away 30% of the investment from the startups.

Startup India Action Plan will be unveiled by Narendra Modi on Saturday which is expected to ease all these regulations, thus creating a friendly startup ecosystem.

[source]

Add comment

NextBigWhat brings you curated insights and wisdom on product and growth from the wild web.

Over 2 million people receive our weekly curated insights.

Newsletter

Newsletter