Specified pension fund designation grants conditional tax exemption for eligible investments in India subject to prescribed compliance and reporting. The government designates the Canada Pension Plan Investment Board as the specified person under clause (23FE) of section 10 for eligible investments in India within the notified period, conditional on compliance with filing returns, furnishing an accountant's compliance certificate, quarterly investment intimation, segmented accounting, continued Canadian regulation, administration solely for statutory and defined contributions, prohibition on inuring benefits to private persons, prohibition on borrowings for making investments in India, and restriction from day to day participation in investees; breach of any condition results in loss of exemption.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified pension fund designation grants conditional tax exemption for eligible investments in India subject to prescribed compliance and reporting.
The government designates the Canada Pension Plan Investment Board as the specified person under clause (23FE) of section 10 for eligible investments in India within the notified period, conditional on compliance with filing returns, furnishing an accountant's compliance certificate, quarterly investment intimation, segmented accounting, continued Canadian regulation, administration solely for statutory and defined contributions, prohibition on inuring benefits to private persons, prohibition on borrowings for making investments in India, and restriction from day to day participation in investees; breach of any condition results in loss of exemption.
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