No Angel Tax on Startups with up to Rs. 10cr Funding Startups incorporated before 2016 that have got up to Rs. 10 crore in angel funding won’t face the so-called angel tax, once changes in the regime are finalised by the Department of Industrial Policy and Promotion (DIPP), which will soon notify the amendment, a senior government official told ET. It will also set up a separate committee for the recognition of such startups so that they get the relief, he said. “We have finalised the conditions which will resolve the issue of pre-2016 startups,” the official said. This will ease the concerns of about 300 startups that received funding from the Angel Investors Network. ET reported on February 5 that DIPP was working to provide relief to startups incorporated before 2016. Startups incorporated after 2016 and recognised under the Startup India policy are spared this tax. “We will have adequate safeguards that would be taken into account when a startup is examined for recognition,”