Tax exclusion for venture capital investment income prevents Chapter application to specified VC company and fund returns. The amendment adds subsection (6) to section 115U, effective 1 April 2016, providing that the Chapter shall not apply to income of a previous year relevant to assessment years beginning on or after that date where the income accrues to, arises to, or is received from investments in a venture capital company or venture capital fund specified in clause (a) of Explanation 1 to section 115UB.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exclusion for venture capital investment income prevents Chapter application to specified VC company and fund returns.
The amendment adds subsection (6) to section 115U, effective 1 April 2016, providing that the Chapter shall not apply to income of a previous year relevant to assessment years beginning on or after that date where the income accrues to, arises to, or is received from investments in a venture capital company or venture capital fund specified in clause (a) of Explanation 1 to section 115UB.
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