TMI BlogIncome of a specified person in the nature of dividend or long-term capital gains arising from an investment made by it in India - Central Government specifies the Pension fund, namely, 1000242244 Ontario Inc. as the specified person for the purposes in respect of the eligible investment made by it in India.X X X X Extracts X X X X X X X X Extracts X X X X ..... - IT - MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 128/2022 New Delhi, the 28th December, 2022 (INCOME-TAX) S.O. 6103(E). -In exercise of the 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urnishing the return of income under sub-section (1) of section 139 of the Act; (ii) the assessee shall furnish along with such return a certificate in Form No. 10BBC in respect of compliance to 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds or plans established for providing retirement, social security, employment, disability, death benefits or any similar compensation to the participants or beneficiaries of such funds or plans, as the case may be; (vii) the earnings and assets of the assessee should be used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans refe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. (x) the said investment 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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