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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... inafter 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 an accountant specified in the Explanation below sub-section (2) of section 288 of the Act and furnish the Audit Report in the format annexed as Annexure to this notification he .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... ses other than for making investment in India; (viii) the assessee shall not have any loan or borrowing [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 Government of Qatar upon dissolution, barring any payment made to creditors or depositors for loan taken or borrowing for 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 any monitoring mechanism to protect the investment with the investee, .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... come-tax Act, 1961 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 .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... reign Wealth Fund (SWF) during the period are as under: Sl. No. Date of invest- ment 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 (instruct- tion 6) Name PAN In case 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) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 1. 2. .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... 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 made for 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 made for 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 person ii. Amount of benefit provid .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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..... p; Date: …………… **(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 report 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 .....

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Central Government specifies the sovereign wealth fund, namely, Qatar Holding LLC - 93/2022 - Income Tax

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