Ms. Roma Priya, Founder of Burgeon Law – “The withdrawal of angel tax will definitely boost more investment in India’s entrepreneurial ecosystem. Angel Tax had caused a hindrance which created an encumbrance for both investors as well as the start-up community. The new move will attract more domestic investors, while giving the liberty to start-ups to try their hands at new things, without facing the heat.”
Dipali Mathur Dayal, Founder & CEO, The Natturel and Kool Pvt Ltd – “This move was much needed as there had been a reluctance amongst both the parties during fundraising. This should hopefully ease the angel rounds because in the current law a person with less than 50 lakhs of tax return and 2cr of net worth was not eligible to invest as angel. Now that is being lightened, this will tremendously boost India’s entrepreneurial ecosystem while attracting more investors.”
Suresh Rangarajan, CEO Colive – The withdrawal of angel tax is a major relief for entrepreneurs and investors and the entire startup ecosystem. There was lack of clarity and the provisions were very interpretational. It could have created more challenges to the already ailing investment sentiment.