angel tax rules: Changes proposed to Angel Tax rules, more valuation flexibility on the cards
India on Friday proposed to exclude a host of foreign investors including sovereign wealth funds and pensions funds from the purview of the so-called "angel tax", offering the much-needed relief to the startup sector staring at a funding winter.Those entities that face this tax will also have more valuation flexibility while computing this it, according to the draft rules put out by the Central Board of Direct Taxes (CBDT), the apex direct taxes body.Investments by non-resident investors including central banks,…