Tax on income in certain cases

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....1) Notwithstanding anything contained in any other provisions of this Act, any ^2[income accruing or arising to or received] by a person out of investments made in a venture capital company or venture capital fund shall be chargeable to income-tax in the same manner as if it were the ^2[income accruing or arising to or received] by such person had he made investments directly in the venture capita....

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....d to in sub-section (1) as it had been] received by, or ^7[had accrued or arisen] to, the venture capital company or the venture capital fund, as the case may be, during the previous year. (4) The provisions of Chapter XII-D or Chapter XII-E or Chapter XVII-B shall not apply to the income paid by a venture capital company or venture capital fund under this Chapter. ^8[(5) The income accruing....

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....und specified in clause (a) of the Explanation 1 to section 115UB.] Explanation.^9[1]-For the purposes of this Chapter, "venture capital company", "venture capital fund" and "venture capital undertaking" shall have the meanings respectively assigned to them in clause (23FB) of section 10.] ^10[Explanation 2.-For the removal of doubts, it is hereby declared that any income which has been incl....

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....57 of the Finance Act, 2012 w.e.f. 01-04-2013 before it was read as, "to the person receiving such income" 5. Substituted vide Section 57 of the Finance Act, 2012 w.e.f. 01-04-2013 before it was read as, "income paid" 6. Substituted vide Section 57 of the Finance Act, 2012 w.e.f. 01-04-2013 before it was read as, "the person receiving such i....