Exemptions on Angel Tax
On 24th May, 2023, the Central Board of Direct Taxes (CBDT) announced that certain groups of investors would be exempt from the Angel Tax provision.
Rationale behind the Move
- The move aims to attract more foreign investment (FDI) into India from countries with strong regulatory frameworks.
- Further, it aligns with the Government’s initial intention of bringing FDI under the purview of angel tax to prevent the circulation of unaccounted money.
Notified Categories of Exempted Investors from Angel Tax
- Excluded entities as notified by the Central Board of Direct Taxes (CBDT)
- Those registered with SEBI as Category-I Foreign Portfolio Investor
- It includes entities such ....
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