Angel Tax Terrorism

Sushubh

Administrator
[OP]
Oct 29, 2004
413,815
12,765
Gurugram
Bank accounts emptied, revoked, harassed: How Angel Tax wiped out Travelkhana Biz

In a very unfortunate incident, Income Tax department had frozen four bank accounts of TravelKhana (Duronto Technologies Pvt Ltd) and withdrew about Rs 33 lakhs on a pretext of tax liability on investments raised by the company from Angel investors.
 

dextermorgan

Regulars
May 12, 2014
6,858
1,219
Hyderabad
classic wording given by PR firm. See how he mentioned "Genuine start ups won't face any difficulty"

by mentioning the word "genuine" he is insinuating that startups/people questioning about angel tax has something to hide/shady/illegal.
 


Reactions: Sushubh