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venture capital fund u/s.10(23FB)

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(Querist)
16 August 2008 If a venture capital company/fund(VCC/F) is invested in venture capital undertaking, is investee(venture capital undertakiung) is liable to taxation?, if yes, what is the benefit is given for investor(i.e.VCC/F)?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
17 August 2008 The income tax exemption is available to Venture capital company, Venture Capital Fund and Venture capital undertaking. Nothing is said about the investor into these in this section.. What exactly is your query? It is not still clear.
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