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Tax sword hangs over PE, VC funds after tribunal ruling SECTIONS Share Synopsis A week ago, the Customs, Excise & Service Tax Appellate Tribunal, Bengaluru, has ruled that the ‘carried interest’ or ‘carry’ in trade parlance, which is a fund’s share of profits from managing investors’ money is a ‘performance fee’ that would attract service tax. Agencies The ruling by the quasi-judicial authority is being closely tracked by the VCF world and fund advisors as fund managers are driven by the money earned from ‘carry’. A tax sword hangs precariously over all private equity (PE) houses and venture capital funds (VCFs) in India.

Tejesh chitlangiRichie sanchetiService tax appellate tribunalTechnology fundAlgo legalGift cityCarry interestபணக்காரர் சன்சேட்டிசேவை வரி மேல்முறையீடு தீர்ப்பாயம்தொழில்நுட்பம் நிதிஅல்கோ சட்டப்பூர்வமானதுபரிசு நகரம்