Form 56 Angel Tax Exemption
Post getting recognition a Startup may apply for Angel Tax Exemption.
Eligibility Criteria for Tax Exemption under Section 56 of the Income Tax Act:
- The entity should be a DPIIT-recognized Startup
- Aggregate amount of paid-up share capital and share premium of the Startup after the proposed issue of shares, if any, does not exceed IN25 Crore.