Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Home Notifications 2021 Income Tax Income Tax - 2021 This
← Previous Next →
  • Login
  • Plus+

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser


Register for Demo / Trial


Annual Subscription Offer

With popular demand, we introduce:-
Special offer on GST Package for Professionals
i.e. CA/CWA/CS/Advocate/Others @ 2500/- +GST



 

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

Extract

..... tte but on or before the 31st day of March, 2024 (hereinafter referred to as “said investments”) subject to the fulfilment of the following conditions, namely:- (i) the assessee shall file return of income, for all the relevant previous years falling within the period beginning from the date in which the said investment has been made and ending on the date on which such investment is liquidated, on or before the due date specified for furnishing the return of income under sub-section (1) of section 139 of the Act; (ii) the assessee shall get its books of account audited for the previous years referred to in clause (i) by any accountant specified in the Explanation below sub-section (2) of section 288 of the Act and furnish the A .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

..... ause (23FE) of section 10 of the Act] taken for the purposes other than for making investment in India; (viii) the assessee shall not have any loans or borrowings [as defined in sub-clause (a) of clause (ii) of Explanation 2 to clause (23FE) of section 10 of the Act], directly or indirectly, for the purposes of making investment in India; (ix) the asset of the assessee shall vest in the Republic of Korea upon dissolution barring any payment made to creditors or depositors for loan taken or borrowing for the purposes other than for making investment in India; and (x) the assessee shall not participate in the day to day operations of investee [as defined in clause (i) of Explanation 2 to clause (23FE) of section 10 of the Act] but the monitor .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

..... plied with the conditions as laid down under clause (23FE) of section 10 of the Act and those provided in the said notification specifying the assessee being the Sovereign Wealth Fund as specified person for the purposes of claiming exemption under the said clause (23FE). 2.1 *The conditions not complied with by the assessee are as under:- (a) …………………………….…………………………….……………………………… (b) …………………………….…………&hel .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

..... _(in rupees) and details of the investment by the Sovereign Wealth Fund (SWF) during the period are as under: Sl No Date of investment Amount of investment Nature of investment (Instruction 4) Nature of income (instruction 5) Amount of income on investment during the year Details of the entity in which Investment made Amount of income which is eligible for exemption under clause (23FE) of section 10 (Attach calculation sheet as per relevant rules) Nature of entity (instruction 6) Name PAN In case if nature of entity code is 3/4/5, whether the entity has made minimum investment of 50 or75 or 90 percent as required in item (c) or (d) or (e) of sub-clause (iii) of clause (23FE) of section 10 (Attach calculation sheet as per relevant rules) (1) .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

..... regulated f) Whether the earnings of the said fund are credited either to the account of the Government of that foreign country or to any other account designated by that Government so that no portion of the earnings inures any benefit to any private person barring any payment made to creditors or depositors for loan taken or borrowing for the purposes other than for making investment in India. Yes/No g) Whether the asset of the said fund vests in the Government of such foreign country upon dissolution barring any payment made to creditors or depositors for loan taken or borrowing for the purposes other than for making investment in India. Yes/No h) If answer to (f) or (g) is No, then provide the following details: i. Name of such private .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

..... ip;…… **(Signature and stamp/ Seal of the signatory) Name of the signatory ………………… Full address …………………………… Membership No……………………… UDIN……………………………….. Instructions: 1. *Delete whichever is not applicable. 2. †This certificate is to be given by an accountant as defined in the Explanation below sub-section (2) of section 288 of the Act. 3.^ An “investee” shall have the same meaning as in clause (i) to Explanation 2 to clause (23FE) of section .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Central Government specifies the sovereign wealth fund, namely, the Ministry of Economy and Finance (of the Republic of Korea) - 63/2021 - Income Tax

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||