A solution for India’s vexed angel tax may be around the corner, with the industry department setting up a panel comprising startups, angel investors and income tax officials to look into the issue. Ramesh Abhishek, secretary in the department for promotion of industry and internal trade (DPIIT) who heads the panel, said a solution is expected in the next four-five days. DPIIT on Monday held consultations with a select group of startups and angel investors at a meeting also attended by officials from the Central Board of Direct Taxes (CBDT). “We had a round table on the issue of angel tax. We have got a number of suggestions. We will form a smaller working group and try to come with some solution in next four-five days,” Abhishek said after the meeting. India introduced a so-called angel tax in 2012, which counts investments received by startups above their fair market value as taxable income, much to the dismay of angel investors and the startup community. According to a perso