Startups issued notices to pay 'Angel Tax' by March-end
Tax authorities have issued notices to startups asking them to pay 'Angel Tax' by March-end, despite government intervention. Tax experts argued the government had only instructed to not take coercive measures to recover the outstanding amount from startups, which doesn't stop the process to assess their valuations. A 30% 'Angel Tax' is levied on investments above "fair value" of startups.