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of <h1>Abu Dhabi sovereign wealth fund gets tax exemption under Section 10(23FE) for India investments until 2030</h1> The Central Government specified a sovereign wealth fund from Abu Dhabi, United Arab Emirates as eligible for tax exemption under Section 10(23FE) of the Income Tax Act 1961 for investments made in India until March 31, 2030. The fund must comply with conditions including filing annual returns, maintaining audited accounts, submitting quarterly statements, remaining under Abu Dhabi government control, ensuring earnings credit to government accounts, avoiding borrowings for Indian investments, and not participating in investee daily operations. Non-compliance renders the fund ineligible for tax exemption.
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