Budget 2024: Centre abolishes 'Angel tax' | What it means and how it impacts startups?

Budget 2024: In a major step, the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman on Tuesday officially abolished the "Angel tax" for all classes of investors for the financial year 2024-25. The removal of the angel tax is anticipated to significantly benefit startups by fostering a more supportive and conducive environment for their growth and development.