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Angel tax – Demon in the making?
from Taxmann's Budget Marathon | M&A & Startup Taxation | Vishwas Panjiar – Partner | Nangia Andersen LLP
by Taxmann
Taxation of consideration received in excess of fair market value of shares
Angel Tax Provisions
Coverage extended to Non-residents
Specified Startups (meeting below mentioned conditions) exempt from Angel Tax Provisions
• DPIIT Recognised
• Aggregate paid-up share capital and share premium of startup after issue or proposed issue of shares < ₹25 crores
Eligible startups
2019 notification excluded eligible startups fulfilling prescribed conditions from the ambit of “angel tax” provisions.
• Has not invested in specified assets for the period of seven years from the end of the latest financial year in which shares are issued at premium:
