The much-anticipated removal of the angel tax is hailed as a pivotal development, aimed at eliminating barriers for early-stage companies and attracting a surge of domestic and foreign investment
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Prior to the budget, the Department for Promotion of Industry and Internal Trade (DPIIT) had recommended the removal of the angel tax, following consultations with the startup community
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By eliminating the tax, the government acknowledges the significant contributions of the alternative assets and private capital industry, which play a pivotal role in fostering enterprise creation and innovation
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