Startups will be exempt from angel tax for the premiums collected on the shares above fair market value from Angel investors.
My question is how to use that fund for day to day working capital as company act don't allow that
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Form 56 for Startup
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Nominal or Authorized or Registered Capital
Section 2(8) of the Companies Act, 2013, defines Nominal Capital as the amount of capital that the Memorandum of the company authorizes as the share capital of the company. Hence, it is the registered amount authorized that can be raised by issuing shares.
The company also pays stamp duty in this amount. Typically, you can calculate nominal capital by taking into consideration the working and reserve capital needs of the company.
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