SEBI proposes to accord MF status to venture funds

India Infoline News Service | Mumbai | August 21, 2014 16:46 IST

This proposal, to be a part of new guidelines being worked out, has been sent to the Union Finance Ministry recently.

The Securities and Exchange Board of India has proposed to accord venture capital funds the status of a ‘specialized mutual fund’, according to a media report.
This proposal has been sent to the Union Finance Ministry recently. The objective is to provide venture capital funds tax exemption under Section 10 (23) D of the Income-Tax Act, the report added.
Venture capital investors are liable to a 30 per cent capital gains tax. At present, the investors to whom it pays out are also taxed. 
 

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