DelhiDesk Mayank Singh, Co-founder of Campus 365, has welcomed the proposed changes by the Central Board of Direct Taxes (CBDT) to the angel tax norms for start-ups. Singh believes that the changes will increase flexibility for both resident and non-resident investors, attracting global investment and sustaining growth. Other industry experts have also praised the proposed changes, which include expanding valuation methodologies, exempting certain non-resident investors, and aligning the Income Tax Act with Foreign Exchange Management Act (FEMA) valuation guidelines. The changes are expected to create a more favorable and investor-friendly business environment for start-ups in India.
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Here is the news bullets sorted by DelhiBreakings.com team.
– Mayank Singh welcomes proposed changes by the CBDT, which includes increasing valuation methods and accounting for forex fluctuations, bidding processes, and economic indicators.
– Exclusions for certain non-resident investors, including sovereign wealth funds and regulated entities, is a positive move that recognizes the integrity of these organizations and should bring increased funding stability.
– The proposed regulations aim to bolster India’s startup ecosystem and encourage entrepreneurial spirit.
– The removal of residency conditions from a particular section means that even non-resident investors can now benefit from it.
– The introduction of angel tax exemption through recent tax laws in India is a significant step towards creating a favorable ecosystem for startups.
– The threshold limit for startups eligible for angel tax exemption has been raised from INR 10 crore to INR 25 crore, benefiting a larger pool of startups.
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