In the Indian industrial sector, startups (people starting the company), who are on the cutting edge of innovation ideas and new technology, have got relief in the turnover limit. But the hope of giving exemption in angel tax could not be fulfilled. Union Minister Nirmala Sitharaman on Saturday announced to increase the annual turnover limit for startups from 25 crores to 100 crores in the general budget.

For your information, let us tell you that startups making big investments will get the benefit of financial facilities from the government. In Uttarakhand, 66 startups are currently recognized by the Central and State Government. Those who started their business with small investment. Startups had expected from the general budget that there was a lot of hope for exemption in angel tax.

If you do not know, let me tell you that Rajat Jain of Sunfox, a startup company that is making  device in health care, says that by increasing the turnover limit, startup companies will be able to make big investments and they will get the benefit of tax exemption and other financial incentives. In the general budget, the government would have given angel tax exemption, it would have helped small startups to move forward. There was an expectation of exemption in angel tax in the general budget.

What is angel tax

Startups do not have enough money to set up a business so that they can invest big capital. To establish their business, they have to take funds from angel investors or banks.

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