Angel tax was on investments, such inflows should not be taxed: DPIIT secretary on removal of levy

Giving a big relief to startups, finance minister Nirmala Sitharaman on Tuesday announced the removal of angel tax for all classes of investors. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said this will help in attracting foreign investments, promoting innovation and further strengthening the startup ecosystem of the country.
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