Angel tax abolition set to fuel innovation and spur investment in deep-tech startups: Ashwini Vaishnaw

The abolition of the angel tax for investors is likely to spur investments in deep-tech startups, union minister for electronics and information technology Ashwini Vaishnaw said.

“For deep tech startups, angel tax was a major issue, specifically in regard to determining valuation. With angel tax now being removed, this has now been resolved,” Vaishnaw said at a press conference after the presentation of the Union Budget 2024-25, adding that removal of the tax has been a long standing demand of the deep tech start-ups.