Bengaluru: Angel Taxation norms has been relaxed by DIPP. On the other hand Rahul Gandhi has also announced exciting promises to startups. To speak about all these Serial Entrepreneur K Ganesh explains about Angel Tax history, current government stand on startups and Rahul Gandhi's promises.
Angel Tax was a draconian move as it kills the spirit of startups and entrepreneurship. Fortunately DIPP facilitated proactive policy changes, now about 99% of the problems are solved K Ganesh said.
Speaking on Rahul Gandhi's promises, Ganesh said that earlier elections was all about vote banks, caste etc but Rahul Gandhi speaking about startup is welcoming.
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Also explaining the the job creation from startup Ganesh said that it is nice to see what the current government has done in last 4 years, Startup India movement , Atal tinkering labs, Fund of Funds etc is helping many startups.
Rahul Gandhi promise of abolishing Angel tax might not have a big impact because it is almost abolished. Other pronouncement of Rahul Gandi is very welcoming like he said in 3 years he will let startup loose i.e., minimal rules and regulations.
Secondly tax credit is being followed in other progressive countries, as startups create huge amount of jobs and this is a progressive move and we expect this will be implemented by any party coming to power.
Overall India is expecting lots of welcome kits for startups as it has capacity to generate lot of employment.
