TaxTMI 
TaxTMI 
Tax on income in certain cases
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....ntained 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 capital undertaking. (2) 3[The person....
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....eceived 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 or arising to or received by the venture capit....
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....o 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 included in total income of t....