Long-term capital gains treatment for venture capital equity defines taxable proportion and sets qualifying investment criteria. The amendment treats long-term capital gains on equity shares of venture capital undertakings by applying specified proportions of such gains for taxation ... Summary
Long-term capital gains treatment for venture capital equity defines taxable proportion and sets qualifying investment criteria.
The amendment treats long-term capital gains on equity shares of venture capital undertakings by applying specified proportions of such gains for taxation depending on the transferee's character, excludes those assets from the residual "other capital assets" category, and inserts an Explanation defining "venture capital company" (primary financier approved by the Central Government) and criteria for "venture capital undertaking" including an investment ceiling, limited internal resources, and employment of high risk technology.
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