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'ANGEL TAX' ABOLISHED FOR ALL CLASSES OF INVESTORS CORPORATE TAX RATE ON FOREIGN COMPANIES REDUCED TO 35 PER CENT FINANCIAL SECTOR VISION AND STRATEGY DOCUMENT WILL BE ROLLED OUT TAXONOMY FOR CLIMATE FINANCE TO BE DEVELOPED RULES AND REGULATIONS FOR FOREIGN DIRECT INVESTMENT AND OVERSEAS INVESTMENTS WILL BE SIMPLIFIED SIMPLER TAX REGIME FOR FOREIGN SHIPPING COMPANIES OPERATING DOMESTIC CRUISES The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman proposed to aboli
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FAQ :
The Union Budget 2024-25 proposes to abolish the 'angel tax' for all classes of investors.
The abolition of the angel tax is aimed at bolstering the Indian start-up eco-system, boosting the entrepreneurial spirit, and supporting innovation.
The corporate tax rate for foreign companies is proposed to be reduced from 40% to 35%.
The budget announced plans to roll out a financial sector vision and strategy document, develop a taxonomy for climate finance, and simplify rules for Foreign Direct Investment and Overseas Investments.
Yes, a simpler tax regime is proposed for foreign shipping companies operating domestic cruises.
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