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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

Extract

..... nserted, namely: - “2DB. Other conditions to be satisfied by the pension fund. - For the purposes of clause (23FE) of section 10, the pension fund shall be required to satisfy the following other conditions, namely: - (i) it is regulated under the law of a foreign country including the laws made by any of its political constituents being a province, state or local body, by whatever name called, under which it is created or established, as the case may be; (ii) it is responsible for administering or investing the assets for meeting the statutory obligations and defined contributions of one or more funds or plans established for providing retirement, social security, employment, disability, death benefits or any similar compensation to .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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..... ral Board of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi having supervision and control over the work of Foreign Tax and Tax Research Division during the other financial years. (2) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall lay down the data structure, standards and procedure of furnishing and verification of Form No 10BBB and Form No 10BBC, and shall be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said forms so furnished under this sub-rule.”; (ii) in Appendix-II, after Form No. 10BB, the following forms shall be inserted, namely: - “ .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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..... sation to the participants or beneficiaries of such funds or plans, as the case may be; (d) the earnings and assets of the pension fund are used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in (c) above and no portion of the earnings or assets of the pension fund inures any benefit to any other private person; and (e) the pension fund does not undertake any commercial activity whether within or outside India. 3. In support of the claims made above, the following documents are attached: (a) documents constituting the Pension Fund and any later amendment thereto, and (b) any other relevant document or information. Verification* I, ___________________, son/ dau .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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..... 10 of the Income-tax Act, 1961 vide notification no_____________, dated _____________ (DDMMYYYY) as under: Sl. No. Date Amount Nature [Debt/ Share Capital (Equity/ Preference)/ Unit] Rate of Dividend, if any, (Preference Share/ Unit)/ Interest (Debt) Details of the entity in which Investment made Business Trust/ Company or enterprise or entity/ Alternative Investment Fund Name PAN (1) (2) (3) (4) (5) (6) (7) (8) 1. 2. Total Verification* I, ___________________, son/ daughter/ wife** of Shri _______________,solemnly declare that to the best of my knowledge and belief, the information given above is correct and complete and particulars shown therein are truly stated. 2. I further declare that to the best of my knowledge; I have not concealed .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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..... e of Dividend, if any, (Preference Share/ Unit)/ Interest (Debt) Details of the entity in which Investment made Business Trust/ Company or enterprise or entity/ Alternative Investment Fund Name PAN (1) (2) (3) (4) (5) (6) (7) (8) 1. 2. Total (ii) *the pension fund has not sold any of the investments made for the purposes of exemption under clause (23FE) of section 10 of the Income-tax Act, 1961 before the expiry of three years from the date on which the investment was made in respect of the said exemption/the pension fund has sold certain investments made for the purposes of exemption under clause (23FE) of section 10 of the Income-tax Act, 1961 before the expiry of three years from the date on which the investment was made in respect of th .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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..... erson; (e) it does not undertake any commercial activity whether within or outside India; and (f) it has complied with the requirement of intimation of the details of investment made by it in India in Form No 10BBB. Verification† It has been ensured that the information furnished is true and correct in all respects and no relevant information has been concealed or withheld. 2. Neither I, nor any of my partners, is a director, partner or an employee of the above-mentioned entities or its associated concerns. 3. I/ we* fully understand that any statement made in this certificate, if proved incorrect or false, will render me/us* liable for any penal or other consequences as may be prescribed in law or is otherwise warranted. Verified to .....

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Income-tax (20th Amendment) Rules, 2020. - 67/2020 - Income Tax

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