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[Cites 0, Cited by 0] [Section 2DA(7)] [Section 2DA] [Entire Act]

Union of India - Subsection

Section 2DA(7)(a) in Income Tax Rules, 1962

(a)if the venture capital fund or the venture capital company-
(i)fails to make investments in the manner specified in sub-rule (4);
(ii)invests more than twenty-five per cent of the monies raised by a venture capital fund or twenty-five per cent of paid-up share capital of the venture capital company, as the case may be, in one venture capital undertaking;
(iii)fails to maintain books of account and get such accounts audited by an accountant or fails to file the audit report required in clause (d) of sub-rule (4);
(iv)violates the provisions of the Act or rules made thereunder;