https://www.taxtmi.com/acts?id=16329 Section 115U is amended to treat income "accruing or arising to or received" by venture capital companies/funds as within the provision; obligations of the person crediting or making payments are aligned to the person liable to tax; references to "paid" are replaced by "paid or credited." A new subsection deems accrued but unpaid or uncredited investment income as credited to investors on the last day of the previous year in their entitled proportion, and an Explanation provides that income taxed on accrual will not be taxed again when actually paid. en-us Tue, 29 May 2012 12:44:04 +0530 Tue, 29 May 2012 12:44:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16329 Section 115U is amended to treat income "accruing or arising to or received" by venture capital companies/funds as within the provision; obligations of the person crediting or making payments are aligned to the person liable to tax; references to "paid" are replaced by "paid or credited." A new subsection deems accrued but unpaid or uncredited investment income as credited to investors on the last day of the previous year in their entitled proportion, and an Explanation provides that income taxed on accrual will not be taxed again when actually paid. Act-Rules F. Acts / Amendment Acts Tue, 29 May 2012 12:44:04 +0530 https://www.taxtmi.com/acts?id=16329