Section 115U of ITA, 1961 – Section 115U: Tax On Income In Certai

The Income-tax Act, 1961

(1) Notwithstanding anything contained in any other provisions of this Act, any 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 income accruing or arising to or received by such person had he made investments directly in the venture capital undertaking.

(2) The person responsible for crediting or mak

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Explanation using examples

Imagine an investor, John, who has invested in a Venture Capital Fund (VCF), which in turn invests in various startups. In the financial year, the VCF earns profits from its investments in these startups and decides to distribut

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Section 115U of ITA, 1961 : Section 115U: Tax On Income In Certain Cases

Bare Act

Simplified Act

Explanation using examples

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