Union Budget Likely to Maintain Status Quo on Angel Tax For Startups

Union Budget of India is the country’s comprehensive Annual Financial Statement. The Union Budget consists of a detailed account of the government’s finances, its revenues from various sources and expenditures to be incurred on different activities that it will incur. As mentioned in the Article 112 of the Indian Constitution, the Union Government lays a statement of its estimated receipts and expenditure for that year, From April 1 to March 31, before both the Houses of Parliament.

The Finance Minister’s Budget presentation speech in the Lok Sabha comprises the following parts:

The Union Budget comprises Capital Budget, Revenue Budget, Expenditure Budget, and this also has the next fiscal year’s estimates.

Capital Budget: The Capital Budget part of the Union Budget has accounts for capital payment and receipts which are government-related. Capital receipts include the following: