Government should abolish "Angel Tax" - Aprameya Radhakrishna Founder & CEO Vokal

Startups are looking forward to abolishing the so-called ‘angel tax’ forever. It’s been a problem for both investors and startups. I am both a startup founder as well as an investor in startups. For most angels, investing is a way of paying it forward. However, you don’t want the hassle of going through some scrutiny just for investing a small amount in a startup. 

 

As a startup, we don’t expect the government to tax us for having raised angel investment. Startups are employment generators. Startup investments need to be incentivized.

 

On the one side the government is trying to protect local businesses when it doesn’t allow FDI in multi-brand retail but on the other hand, they are discouraging local businesses and investors by levying startup/angel tax.

 

I hope the government removes the startup tax in all forms from the budget. There should be no ambiguity/subjectivity when looking at funds raised by startups. The onus is on the government to find ways to separate the few questionable transactions from the thousands of genuine startups.

 

 

About Vokal

 

Vokal is the brainchild of Aprameya Radhakrishna and Mayank Bidawataka who are veterans in the start-up ecosystem. Aprameya Radhakrishna was also the co-founder of TaxiForSure which he sold to rival Ola CabsMayank Bidawataka was one of the founding team members at redBus, after which he founded the MediaAnt and Goodbox.


Recently, Vokal has received a funding of $6.5 million in a Series A round led by Kalaari Capital, Shunwei Capital, 500 Startups in Sep 2018, with participation from existing investors Accel India and Blume Ventures

 

Vokal is currently available in Hindi but it will launch in more than 22 regional languages in the coming months. The startup is based in Bangalore

 

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