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of <h1>CBDT Details Tax Exemption Process for Sovereign Wealth Funds u/s 10(23FE) of Income-tax Act 1961.</h1> The circular issued by the Central Board of Direct Taxes outlines the process for notifying Sovereign Wealth Funds (SWF) under section 10(23FE) of the Income-tax Act, 1961. The clause provides tax exemptions on income from dividends, interest, or long-term capital gains for investments in specified infrastructure businesses in India, made between April 1, 2020, and March 31, 2024, and held for at least three years. Eligible entities include wholly owned subsidiaries of the Abu Dhabi Investment Authority, notified SWFs, and Pension Funds. SWFs must apply using Form I, submit income returns with audit reports, and file quarterly investment statements electronically.
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