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Venture Capitalists; Sovereign Wealth Funds; Private Equity & Hedge Funds; High Net Worth & Angel Investors; Film Investors & Lenders and Bankers globally will participate at the International Conference on Film Finance on 27th April 2012 at Mumbai, India.... Read More


In terms of section 10(23 F) of IT Act income by exemptions way of dividend and long term capital gains received by approved VC Companies/Funds from investment made by way of equity shares in a VC undertaking are exempt from tax.

IT rules amended on 18th July 1995 introduced a rule 2(D) which allowed tax exemption under the aforementioned section provided, among others,

(1) An application is made to Director of IT (Exemptions) by the VCC or VCF

(2) VCF/VCC is registered with SEBI.

(3) Not less than 80% of the fund corpus/paid up capital is invested by year 3.

(4) The VCC/VCF does not invest more than 5% of paid up capital/fund corpus in one VC undertaking.

(5) VCC/VCF does not invest more than 40% in equity capital of one VC undertaking.

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