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Central Government specifies the pension fund, namely, the California Public Employees Retirement System - 02/2023 - Income TaxExtract ..... 038J), (hereinafter referred to as “the assessee”) as the specified person for the purposes of the said clause in respect of the eligible investment made by it in India on or after the date of publication of this notification in the Official Gazette but on or before the 31st day of March, 2024 (hereinafter referred to as the “the said investments”) subject to the fulfillment of the following conditions, namely:- (i) the assessee shall file return of income, for all the re ..... x x x x x Extracts x x x x x Central Government specifies the pension fund, namely, the California Public Employees Retirement System - 02/2023 - Income Tax x x x x x Extracts x x x x x ..... nditure in respect of such investment which qualifies for exemption under clause (23FE) of section 10 of the Act; (v) the assessee shall continue to be regulated under the laws of the Government of the State of California, United States of America; (vi) the assessee shall be 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, disabilit ..... x x x x x Extracts x x x x x Central Government specifies the pension fund, namely, the California Public Employees Retirement System - 02/2023 - Income Tax x x x x x Extracts x x x x x ..... as defined in clause (i) of Explanation 2 to clause (23FE) of section 10 of the Act, but the monitoring mechanism to protect the investment with the investee including the right to appoint directors or executive director shall not be considered as participation in the day to day operations of the investee; and (x) the said investments of the assessee shall be held for at least three years as required under sub-clause (ii) of clause (23FE) of section 10 of the Act. 2. Violation of any of the con ..... x x x x x Extracts x x x x x Central Government specifies the pension fund, namely, the California Public Employees Retirement System - 02/2023 - Income Tax x x x x x Extracts x x x x x
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