Nasscom, representing India’s technology sector, has proposed the formation of a government group including officials from CBDT, MCA, DPIIT, SEBI, and RBI to evaluate the 12-year impact of the angel tax and suggest reforms. In its pre-budget memorandum for 2024-25, Nasscom highlighted issues with the angel tax, such as subjective valuation challenges and restrictive end-use conditions for exemptions. It advocated for enabling direct listing in India for Indian-origin foreign start-ups and increasing the safe harbour threshold to Rs 2000 crore.
Nasscom Urges Government Review of Angel Tax Impact
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/06/27152038/TNIE_import_2019_7_17_original_Nasscom_Twitter-ezgif.com-avif-to-jpg-converter-860x484.jpg)