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What Is Angel Tax And How Will Its Abolition Impact The Start Ups? | Union Budget 2024

Union Finance Minister Nirmala Sitharaman has fulfilled a long pending demand of the startups by abolishing the ‘Angel Tax’. The tax applied to startups and unlisted companies when they raised capital by issuing shares to domestic investors at a price exceeding the company’s fair market value. This excess amount was treated as income and 30.6% tax was levied on it, as the government viewed this extra funding income from ‘other sources’. #angeltax #unionbudget2024 #nirmalasitharaman Moneycontrol is India's leading financial and business portal with in-depth market coverage, analysis, expert opinions, and a gamut of financial tools. A part of Network18, moneycontrol.com is the most influential destination for stock market news and advice, business news, and news about the Indian and global economy. Subscribe: https://bit.ly/moneycontrolyoutube Follow us: Visit https://www.moneycontrol.com/ Facebook:   / moneycontrol   Twitter:   / moneycontrolcom   Instagram:   / moneycontrolcom