Indian startups failed to receive any relaxations from the proposed changes to the angel tax provision, which seeks to include foreign and non-resident Indians under the tax regime.

While the Finance Bill passed by Lok Sabha on Friday did not provide any relaxation to investors despite requests from the startup ecosystem, a note shared by the ministry of finance said concerns raised by stakeholders would be addressed. “The draft rules related to valuation shall be shared with the stakeholders for their inputs in the next month itself, viz April,” the note added.