Bye-Bye Angel Tax! Bidding Farewell to India's Burdensome Taxation Regime for Entrepreneurs.

The Indian government has recently abolished the angel tax, a tax on the capital that startups received from angel investors. This tax was seen as burdensome and unfair by startups, as it required them to justify their valuations and often resulted in significant tax liabilities. The removal of this tax is expected to boost startup investments and create a more supportive environment for entrepreneurship in India. Additionally, the Mudra loan limits have been increased, which will further support income-generating micro-enterprises. These measures aim to foster innovation and economic growth in the country. [Extracted from the article]