Insertion of new Chapter XII-F

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..... IES AND VENTURE CAPITAL FUNDS 115U. Tax on income in certain cases.- (1) Notwithstanding anything contained in any other provisions of this Act, any income 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 received by such person had he made investments directly in the .....

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..... ital 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. Explanation.-For the purposes of this Chapter, "venture capital company", "venture capital fund" and "venture capital undertaking .....

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