Pass-through taxation change removes pass-through treatment for certain venture capital fund investments, aligning them with a new tax regime. Amendment withdraws the pass-through scheme for certain venture capital investments by excluding those investments from the existing tax treatment under section 10(23FB) and section 115U, which had taxed investor income on a current-year basis and exempted fund distributions from dividend distribution tax and withholding; the inserted provision clarifies that incomes from funds subject to the new regime in section 10(23FBA) and section 115UB will not receive the Chapter's pass-through treatment.
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Pass-through taxation change removes pass-through treatment for certain venture capital fund investments, aligning them with a new tax regime.
Amendment withdraws the pass-through scheme for certain venture capital investments by excluding those investments from the existing tax treatment under section 10(23FB) and section 115U, which had taxed investor income on a current-year basis and exempted fund distributions from dividend distribution tax and withholding; the inserted provision clarifies that incomes from funds subject to the new regime in section 10(23FBA) and section 115UB will not receive the Chapter's pass-through treatment.
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