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Which of the following statements is/are correct? 1. Angel tax is income tax payable on capital raised by unlisted companies from investors 2. It was introduced in 2012 budget to arrest laundering of funds. 3. However it was scrapped in the recent budget of 2019. 4. If the paid-up capital of startup entity is Rs. 25 crores or less the angel tax is not applicable.
Correct Answer: (c)
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This question appeared in the GPSC Prelims 2019 examination (GS-II). It is Question 20 out of 400 questions in this paper.
This question was part of the GPSC Prelims 2019 (GS-II). The GPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all GPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.