“Conditions for the Venture Capital Fund for the clause (23FB) of section 10.–

2DAA. For the purposes of sub-item (iv) of item (II) of sub-clause (A) of clause (b) of Explanation to clause (23FB) of section 10 , the Venture Capital Fund as referred to in sub-regulation (2) of regulation 18 of the International Financial Services Centres Authority (Fund Management) Regulations, 2022 shall be construed as Category I Alternative Investment Fund regulated under the International Financial Services Centres Authority (Fund Management) Regulations, 2022 made under the International Financial Services Centres Authority Act, 2019 (50 of 2019).”

Note:-

1. Inserted by the Income-tax (Second Amendment) Rules, 2025 dated 27.01.2025.