Entrepreneurs! Here’s your chance to tell the govt what you think of Angel Tax and why it should be abolished
Over the last 48 hours, government officials have told the media that the Centre is committed to resolving the Angel Tax issue and is taking proactive steps to do so. That's great. But it's also time to give startups and key stakeholders a place to voice their concerns about Angel Tax.
At YourStory, we've been the voice of entrepreneurs and changemakers for the last 10 years. Whenever needed, we have sought the opinions of the startup ecosystem to present to the government and other stakeholders, as we did with Startup India and with the Union Budget. Now, it's time to come together and fill out our survey on the Angel Tax issue.
Tell us your concerns. Share your suggestions. Together, we can amplify your voice. Together, we can knock on the doors of policymakers and decision-makers in New Delhi. Together, we can get heard and bring about lasting change.
The last round of changes announced by the Department of Industrial Policy and Promotion (DIPP) last week was a step in the right direction, but a lot more needs to be done till the spectre of Angel Tax is abolished for good.
As Pavan Sharma, a Partner at BCL India, an accounting firm, told YourStory.
“What we needed was major surgery but what's been offered is a cosmetic change.”
As we wrote last week, angel investors can easily turn their back on startups and look at other investment opportunities. But should that pool of funds dry up, it would kill innovation in India. And that is what we need to prevent.
In the past few weeks, YourStory has spoken to hundreds of influencers and entrepreneurs in the ecosystem, and they are all hoping that the government will take proactive steps to resolve the Angel Tax issue at the earliest. We are now collecting this data to create a whitepaper that we will present to the government soon.
Head over here to take the YourStory Survey on Angel Tax. Share it with others in the ecosystem too. [The survey is open until Saturday, January 26, 2019.)