How do I get angel tax exemption for my startup?

Name: Vijay R Singh & Co.
Address: Office No. 4, Vishal CHSL, D Wing, Sir Mathuradas Vasanji Road, Azad Nagar, Opp. Andheri Gymkhana, Andheri East, Maharashtra, 400069, IN
Telephone: +91 98607 23959

CA Vijay R Singh, FCA
Chartered Accountant · ICAI M.No. 153926 · FRN 136869W

Short answerFor shares issued before the 2024 abolition (up to FY 2023-24), a DPIIT-recognised startup could claim angel-tax exemption by meeting the conditions and filing the declaration. For issues from 1 April 2024 onwards, no exemption is needed because angel tax has been removed.

Before vs after 1 April 2024

Pre-abolition rounds relied on DPIIT recognition plus the prescribed conditions and declaration. Post-abolition rounds simply aren’t taxed.

What to do for old rounds

Keep the DPIIT recognition, the declaration and a valuation report on file in case an earlier year is assessed.

NRI Taxation

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This answer is general information for NRIs, not tax advice. Tax rates, thresholds and forms change with each Finance Act — please confirm the current position for your own facts, or speak to us, before acting.