Abolition of angel tax marks a landmark reform benefiting startups: US India Forum
angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem, the US India Strategic and Partnership Forum (USISPF) said Tuesday and applauded the proposal in the Union budget to reduce tax rates for the foreign companies to 35 per cent. «India has long been a country of engineering and tech talent, yet there have been gaps in the innovation ecosystem. The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem. This important reform will stimulate increased startup funding from both domestic and international sources,» the US India Strategic and Partnership Forum (USISPF) said.
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Applauding the decision to reduce tax rates for the foreign companies to 35 per cent, the USISPF said this action creates parity between domestic and foreign players and will be an important boost for global investors seeking to shift their international supply chains away from China.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitAt the same time, the duty cuts on critical imports such as medical equipment, mobile phones and chargers, and solar energy machinery will enhance local manufacturing capabilities and enhance supply chain efficiencies, which are crucial for India's industrial growth, it said.
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