Angel Tax

Congress' P Chidambaram took cognizance of the event and targeted the govt for taking so long to abolish the so-called tax. He said that the Congress had pleaded for the abolition of the angel tax and finally the Finance Minister announced it today. Ironically, it was Congress who had made changes in the Income Tax Act to introduce the Angel Tax.

Union Finance Minister Nirmala Sitharaman announced widespread reforms in order to address economic concerns.

The Central Board of Direct Taxes (CBDT) has clarified that no verification will be done by an assessing officer if a startup has been recognised by the Department for Promotion of Industry and Internal Trade.

Angel Tax is a 30% tax that is levied on the funding secured by startups from an external investor

The promises made by Rahul Gandhi for startups are already implemented under startup India and other initiatives of Modi government.

OpIndia.com recently had the opportunity to interview Union Minister of Railways, Piyush Goyal. During the interview, Goyal answered questions on a variety of issues including BJP's electoral prospects ahead of the 2019 General elections and the interim budget which he presented as the interim Union Minister.