Investment fund taxation: a platter of ambiguities

By Pranay Bhatia and Vidushi Maheshwari, Economic Laws Practice
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The regulations governing venture capital funds have been revamped and a new regime has been formulated for registration of an alternative investment fund (AIF) with the Securities and Exchange Board of India. The new regulations are much wider in scope.

Pranay Bhatia
Pranay Bhatia

A category I AIF has been equated with a venture capital fund and given a tax pass-through status whereby the income will be taxable in the hands of the investors directly.

This taxation position, which was only an interpretation when the AIF regulations were introduced, will obtain the effect of law on the Finance Bill, 2013, attaining the status of the Finance Act, 2013.

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Economic Laws Practice is a full-service law firm with headquarters in Mumbai and offices in New Delhi, Pune and Ahmedabad. Pranay Bhatia is a partner at the firm and Vidushi Maheshwari is an associate.

ELP

Economic Laws Practice

1502 A Wing, Dalamal Towers

Free Press Journal Road

Nariman Point, Mumbai 400021

India

Tel: +91 22 6636 7000

Fax: +91 22 6636 7172

Email: PranayBhatia@elp-in.com

VidushiMaheshwari@elp-in.com

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