Angel Buyers Are in Tax Hell in India
About three several years in the past, Anup Kuruvilla remaining his corporate banking task in Hong Kong to return to Bangalore and assemble a bunch of rich people ready to position compact, early-stage bets on fledgling founders.
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1Crowd, the platform Kuruvilla and his companions helped set up, has 500 buyers. Associates co-invest with 1Crowd Fund, sharing the pitfalls in mentoring younger ventures: Some are sure to fold. The main prosperous exit, very likely to manifest when any of 1Crowd’s present-day stable of 21 corporations goes in for Sequence B funding, is still some means off. The identify of the activity is endurance.
And that is a person thing in brief provide while using the Indian authorities. The profits authorities have been hounding tiny organizations around revenue lifted from buyers, professing their valuations are fraudulent and slapping them with a thirty percent tax, as though the fundraising is cash flow. The “angel tax” has remaining early-stage investors exasperated. A modern clarification on how startups can search for exemption in the levy has manufactured points much more intricate.
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