Which entities are excluded from attracting angel tax as per the notification provided by the Finance Ministry?
The Finance Ministry has notified 21 countries, including the US, UK and France, from where non-resident investment in unlisted Indian startups will not attract angel tax. The list, however, excludes investment from countries like Singapore, Netherlands and Mauritius. Excluded entities include those registered with SEBI as Category-I FPI, Endowment Funds, Pension Funds and broad-based pooled investment vehicles, which are residents of 21 specified nations, including the US, UK, Australia, Germany and Spain. The other nations mentioned in the notification are Austria, Canada, Czech Republic, Belgium, Denmark, Finland, Israel, Italy, Iceland, Japan, Korea, Russia, Norway, New Zealand and Sweden. Under the existing norms, only investments by domestic investors or residents in closely held companies were taxed over and above the fair market value. This was commonly referred to as an angel tax.
Which Indian long jumper successfully defended his title and won gold at the International Jumping Meeting in Greece?
What was the reason behind the RBI's imposition of a monetary penalty on Omkar Nagreeya Sahkari Bank Ltd . , Kanpur?
Which product was recently launched by SBI General Insurance to support infrastructure projects?
Partha Satpathy is an Indian ambassador to which country?
How much penalty did the Reserve Bank of India impose on the Thane District Central Co - operative ( TDCC ) Bank?
According to the Speedtest Global Index by Ookla,India’s median download speed increased 3.59 times after 5G was launched.What rank has India achieved...
What will be the new capital of Andhra Pradesh?
Which Indian institution secured the 40th position in the QS Asia University Rankings 2024?
______ has launched an online Radio, a platform to provide bite-sized content that offers both entertainment and livelihood enhancement tools.
What was the primary focus of the Ganga Waters Treaty signed between India and Bangladesh in 1996?