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Cautiously Optimistic

DNMUM412181 | 4/16/2018 | Author : Priyanka Golikeri | WC :595

Tax concessions on investments up to `10 crore will ease the flow of funds into the ecosystem, accelerate innovation, technology adoption and growth

It’s time to be optimistic, albeit in moderation.
Start-ups received a slight pat on the back when the government recently announced that they can avail full tax concessions on investments of up to Rs 10 crore that they have got from investors including angels. This means that start-ups can seek out tax concessions under Section 56 of the I-T Act by applying for a merchant banker certificate from the Inter-Ministerial Board (IMB) that has been set up by the Department of Industrial Planning and Promotion (DIPP).
According to Harsh Shah, co-founder of online fashion platform Fynd, this move will certainly boost support towards start-ups and will witness more activity from angel investors towards the sector.
Angel investors come i
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