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Angel Tax Exemption in Karnataka

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Expected To Be Complete* : 16 Apr 2023

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Form 56 Angel Tax Exemption in Karnataka

Post getting recognition a Startup may apply for Angel Tax Exemption in Karnataka .

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.

FAQs of Angel Tax Exemption in Karnataka

The Angel Tax Exemption is a tax benefit provided to angel investors who invest in startups. It was introduced to encourage more investments in the startup ecosystem in India.
The exemption is available to startups that are recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) and have a turnover of less than Rs 25 crore. Angel investors who invest in these startups are also eligible for the exemption.
Angel investors can claim an exemption on the amount of investment made in eligible startups up to a maximum of Rs 50 crore.
The exemption was introduced as a temporary measure in 2012 but has been extended several times. As of now, it is a permanent feature of the Indian tax system.
Yes, foreign investors who invest in eligible startups can also claim the exemption, provided they meet the necessary criteria.
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