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Bangalore, March 2

Dr Sridhar Mitta, founder of the venture funding firm e4e Labs Pvt Ltd and former head of Wipro's research and development division, said, "They have unnecessarily made it complex. There is no flexibility now. Indian investors will now have to pay tax on their capital gains on investment, whereas entities from other countries do not. I feel the rules for foreign and Indian VCs (venture capitalists) should have been made similar and the process should have been simplified.''

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