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of <h1>Quebec pension fund gains tax exemption under section 10(23FE) for India investments until March 2030 with eleven compliance conditions</h1> The Central Government specified a pension fund as an eligible entity for tax exemption under section 10(23FE) of the Income-tax Act, 1961, for investments made in India from the notification date until March 31, 2030. The designation is subject to eleven conditions including filing annual returns with Form 10BBC certificates, quarterly investment reporting via Form 10BBB, maintaining segmented accounts, remaining regulated under Quebec law, and administering retirement benefits for participants. The entity must ensure no more than ten percent of assets serve purposes other than retirement benefits, with such assets owned by the Quebec Government. The fund cannot borrow for Indian investments or participate in daily operations of investees. Violation of any condition renders the entity ineligible for tax exemption.
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