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of <h1>Income-tax Rules Amend Rule 2DB: Pension Fund Asset Compliance and Updated Form No. 10BBA for Section 10(23FE) Notification.</h1> The Income-tax (11th Amendment) Rules, 2021, effective from April 26, 2021, amend Rule 2DB of the Income-tax Rules, 1962. The amendment specifies conditions under which a pension fund's assets are considered compliant, including that such assets must not exceed 10% of the total assets managed by the fund, be wholly owned by a foreign government, and revert to that government upon dissolution. Earnings from these assets must benefit only the foreign government. Additionally, Form No. 10BBA is updated for pension funds seeking notification under section 10(23FE) of the Income-tax Act, 1961.
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