Start-ups registered with the Department of Industrial Policy and Promotion of the Government of India are exempted from the payment of the "Angel Tax" with conditions. This tax refers to

• A. Tax payable on capital raised by new listed start-up companies via issuance of shares where the share price is seen in excess of fair market value of shares sold.
• B. The tax that start-up were supposed to pay if they receive a loan at a discounted rate of interest because of higher success ratio.
• C. Tax payable on capital raised by unlisted companies via issuance of shares where the share price is seen in excess of fair market value of shares sold.
• D. The tax that start-ups were supposed to pay when their annual income would cross the specified threshold as per their fair market valuation.