TMI BlogCentral Government hereby specifies the pension fund, namely, the School Employees Retirement System of OhioX X X X Extracts X X X X X X X X Extracts X X X X ..... -In exercise of powers conferred by sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act ), the Central Government hereby specifies the pension fund, namely, the School Employees Retirement System of Ohio, (hereinafter referred to as the assessee ) as the specified person for the purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the provisions of clause (23FE) of section 10 of the Act, during the financial year, from an accountant as defined in the Explanation below sub-section (2) of section 288 of the Act, as per the provisions of clause (vi) of rule 2DB of the Income tax Rules, 1962 ; (iii) the assessee shall intimate the details in respect of each investment made by it in India during the quarter within o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ans, as the case may be; (vii) not more than ten per cent. of the total value of the assets administered or invested by the assesse are allowed for the purpose other than the purpose listed at clause (vi) provided such assets are wholly owned directly or indirectly by the State of Ohio, United States of America and such assets vest in the State of Ohio, United States of America upon dissolution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... United States of America or any other account designated by such Government so that no portion of the earnings inures any benefit to any private person; (x) the assessee shall not have any loans or borrowings [as defined in sub-clause (b) 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; (xi) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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