Businesswonder.com - Home Page

Income Tax Exemption under Section 10(23FB) of Income Tax Act, 1961

 

Eligible Assessee

Venture capital fund or venture capital company

 

 

 

Nature of Income

Any income from investment in venture capital undertaking

 

Amount Exempt

Entire amount

 

Conditions laid down for Tax Exemption u/s 10(23FB)
1. venture capital company means the one

 -which has been granted certificate of registration under SEBI Act and Rules and fulfils notified and approved specified conditions

2. venture capital fund means such fund

 -operating under trust deed or as venture capital scheme made by UTI and has been granted certificate of registration under SEBI Act and Rules and fulfils notified and approved specified conditions.

3. Venture capital undertaking means

 -Domestic company whose shares are not listed in recognized stock exchange and is engaged in business of specified activities

HOME  About Us   Contact Us   Disclaimer   Privacy Policy