Govt acts on LocalCircles demand - abolishes angel tax for startups

Many of you may know that LocalCircles actively took up the cause of abolishing angel tax for startups in India a few months back. We are pleased to share that yesterday, Ministry of Finance via CBDT and Ministry of Commerce via DIPP accepted the solution proposed by LocalCircles and issued a notification to abolish angel tax for recognised startups in India with a few conditions. This is the single biggest reform for startups by the Modi Government and has the potential to invigorate an ecosystem that was struggling in the last few years due to this devil tax. Below is the detailed report and related media reports.

Full LocalCircles Report
Moneycontrol Report
Indian Express Report
The Hindu Report

If you have additional ideas or inputs on what the Government should do to boost the startup ecosystem further, please do share as LocalCircles will be taking them up with the Government very shortly.

------------------------------------------------------------------------------------------------------------------------------------ Some of you participated in the LocalCircles Startup/SME survey whose results are available at the link below. The survey helped capture the collective pulse of startups and SMEs. Below is the full report and the survey has been widely covered in media as well. If you are a business or service provider or a concerned citizen, you are welcome to share the same on your social media so the Govt acts to address the situation faced by startups and SMEs.

Full LocalCircles Report
CNBC Report
Economic Times Report
The Hindu Report

For any country to have robust economic growth, it is critical that its SME and startup ecosystem becomes successful, esp when large private and public enterprises are unable to create enough jobs.

LocalCircles is taking up the issues of the Startup and SME ecosystem with the Government and hoping that key issues like taxation are addressed soon. If you have other issues and ideas on making doing business easier, kindly share the same. more  

View all 41 comments Below 41 comments
Great stuff LC more  
Good news that notification has been issued to abolish angel tax for recognised startups in India more  
L C must be developed as a strong body to approach the Government to solve any shortcomings which are either consumer based policy or developmental activities. The LC efforts are really more appreciable for having successfully pursued the Government to abolish angel tax and L C developing as a commanding body for the public interest. I heartily congratulate the whole LC body. more  
Congratulations to all the members of LC. more  
Good to hear that our voice has been heard and with this the credibility of LC has increased but how come in the newspapers coverage has not yet been given since i did not see anything but maybe I missed it.
Since this group lot of learned people are there who will give unbiased comments and will give feedback to help the common people hence i only hope this is just a beginning and lot more will come. more  
Post a Comment

Related Posts

    • What should the Government do to improve GST collection?

      As you may be familiar, the GST collection in September was at a 19 month low of 92,000 crores. The Government is looking at various options including increasing GST rates on some products, as wel...

      By LocalCircles Manager
      /
    • Buying Groceries Online: Inputs on issues faced

      Many of you who have been in circles know how LocalCircles worked with Legal Metrology Department to make best before date disclosure for food products mandatory on ecommerce apps, sites....

      By LocalCircles Manager
      /
    • #MeToo - Sexual Harassment: How have things changed in the last 12 months?

      Exactly, a year ago, many of you participated in the polls on #MeToo Sexual Harassment at workplaces and shared your or your family member's experiences on the subject. The survey suggested that 78...

      By LocalCircles Manager
      /
    • Need for Hotel Services Standards in India - Addl Inputs

      Last year, many of you participated in the consultation of issues regarding the Hotel industry in India Below are the key issues, root causes and solutions for the state of hotel industry in India...

      By LocalCircles Manager
      /
    • Issues with various Insurance Services in India: Inputs Sought

      Below are some of the key issues listed by you in the past in regards to insurance in India. Kindly review and share any additional inputs you may have on the same. We look forward to your inputs a...

      By LocalCircles Manager
      /
    • Article 354A make it bailable

      Dear Sir, Please note for grabbing land property and money in the house women in family plus in neighborhood are hatching plans and conspiracy to make fake cases on their blood relatives. Plea...

      By Pankaj Bansal
      /
    • Is the black money back in the economy? Inputs Sought

      Many of you may remember that this circle was the first collective community to call for demonetisation Oct 31 - Nov 8, 2016 before it was announced by the Prime Minister on Nov 8.Per the...

      By LocalCircles Manager
      /
    • Know how eCommerce reviews and ratings work

      Many of you have been giving your inputs on identifying issues of ecommerce and LocalCircles has been regularly escalating them for resolution and inclusion in policies. This year's survey as the ...

      By LocalCircles Manager
      /
    • Airline Safety Issues: Inputs Sought

      Several of you have were involved last year in raising the issue of Boeing 737 Max safety and its use was only suspended by the Government after LocalCircles escalated the matter to then Civil Avia...

      By LocalCircles Manager
      /
    • Know how ecommerce reviews and ratings work

      Many of you have been giving your inputs on identifying issues of ecommerce and LocalCircles has been regularly escalating them for resolution and inclusion in policies. This year's survey as the o...

      By LocalCircles Manager
      /
    • Fixing India's Co-operative Banks - Inputs Sought

      Co-operative Banks are a way of reaching out to semi rural and rural customers. However, many suffer from mis-governance, frauds and scams as what just came to light a week ago with Punjab and Mah...

      By LocalCircles Manager
      /
Share To
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)