Startups launch e-petition against I-T dept’s angel tax

A group of entrepreneurs has started a petition on Change.org against the ‘angel tax’ being demanded by income tax authorities, especially in the past year. The petition says it is on behalf of hundreds of startups in India which are distressed by a spate of notices and assessment orders from the I-T department and which contradict the spirit of the Startup India movement as they are detrimental to ease of doing business in India.

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A group of entrepreneurs has started a petition on Change.org against the ‘angel tax’ being demanded by income tax authorities, especially in the past year. The petition says it is on behalf of hundreds of startups in India which are distressed by a spate of notices and assessment orders from the I-T department and which contradict the spirit of the Startup India movement as they are detrimental to ease of doing business in India.