Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Venture capital fund approval requirements govern exemption claims, investment limits, audit compliance, and withdrawal of approval conditions. Approval for exemption under clause (23F) of section 10 is to be obtained by a venture capital fund or venture capital company from the Director of Income-tax (Exemptions) on Form No. 56A, supported by incorporation or trust documents, financial statements, prescribed forms, and Securities and Exchange Board of India registration. Approval is conditional on registration, limits on investment concentration and equity exposure, maintenance and audit of books of account, and timely furnishing of the audit report. Approval is granted or refused by written order, after hearing, and may be withdrawn for breach of the conditions or suspension or cancellation of registration.
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.
Venture capital fund approval requirements govern exemption claims, investment limits, audit compliance, and withdrawal of approval conditions.
Approval for exemption under clause (23F) of section 10 is to be obtained by a venture capital fund or venture capital company from the Director of Income-tax (Exemptions) on Form No. 56A, supported by incorporation or trust documents, financial statements, prescribed forms, and Securities and Exchange Board of India registration. Approval is conditional on registration, limits on investment concentration and equity exposure, maintenance and audit of books of account, and timely furnishing of the audit report. Approval is granted or refused by written order, after hearing, and may be withdrawn for breach of the conditions or suspension or cancellation of registration.
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