There may be a sense of relief among startup founders who received tax notices on angel funding earlier this year. According to a The Times of India report, the government is considering additional sops and, possibly, redefining the term startup.
However, it will not solve the problem the way it didn’t when the Department of Industrial Policy and Promotion (DIPP) issued a notification last month, saying that the proposed changes were to “ease availment of angel tax exemption”. Now the Government intends to form a working committee to look into the ‘definition’ of a startup.
