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of <h1>Canadian pension fund gets tax exemption under Section 10(23FE) for India investments with strict compliance conditions</h1> The Central Government specified a Canadian pension fund as an eligible entity for tax exemption under Section 10(23FE) of the Income Tax Act for investments made in India between April 22, 2021, and March 31, 2030. The exemption requires compliance with nine conditions including filing annual returns with Form 10BBC certificates, quarterly investment reporting via Form 10BBB, maintaining segmented accounts, remaining regulated under Canadian law, and restricting fund usage to statutory obligations for retirement and social security benefits. The fund cannot participate in day-to-day operations of investee companies or use borrowings for Indian investments. Non-compliance with any condition renders the entity ineligible for tax exemption.
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