Siddarth Pai, Founding Partner at 3one4 Capital and Co-Chair of the Regulatory Affairs Committee at IVCA, highlights that the introduction of the Variable Capital Company (VCC) structure for AIFs in GIFT IFSC is another forward-looking measure
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Gopal Srinivasan, Chairman and MD, TVS Capital Funds and Former Chairman, IVCA expresses, "This is indeed the Dream Budget for startup growth capital. It is Deepavali for the Indian Startup system and the Domestic VC/PE Capital community"
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The much-anticipated removal of the angel tax is hailed as a pivotal development, aimed at eliminating barriers for early-stage companies and attracting a surge of domestic and foreign investment
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By eliminating the tax, the government acknowledges the significant contributions of the alternative assets and private capital industry, which play a pivotal role in fostering enterprise creation and innovation
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Prior to the budget, the Department for Promotion of Industry and Internal Trade (DPIIT) had recommended the removal of the angel tax, following consultations with the startup community
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Venture capital investors and startup founders are hopeful that the Modi Government 3.0 will repeal the angel tax
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