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Exemption in respect of certain income of wholly owned subsidiary of Abu Dhabi Investment Authority and Sovereign Wealth Fund.

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..... under specific circumstances. In order to promote investment of sovereign wealth fund, including the wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA), it is proposed to insert a new clause in the said section so as to provide exemption to any income of a specified person in the nature of dividend, interest or long-term capital gains arising from an investment made by it in India, .....

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..... Government of the United Arab Emirates; and (b) a sovereign wealth fund which satisfies the following conditions: A. It is wholly owned and controlled, directly or indirectly, by Government of a foreign country; B. It is set up and regulated under the law of the foreign country; C. Its earnings are credited either to the account of the Government of the foreign country or to any other account des .....

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