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of <h1>Sovereign wealth fund gets tax exemption under section 10(23FE) until 2030 with ten compliance conditions</h1> The Central Government designated a sovereign wealth fund as a specified person under section 10(23FE) of the Income Tax Act for tax exemption purposes on investments made in India until March 31, 2030. The designation requires compliance with ten conditions including filing income tax returns, obtaining audit reports, maintaining quarterly statements, keeping segmented accounts, remaining under government ownership and control, being regulated under relevant laws, crediting earnings to government accounts, avoiding loans for Indian investments, vesting assets in the government upon dissolution, and not participating in investee operations. The notification includes detailed audit report requirements and forms for compliance verification. Violation of any condition renders the fund ineligible for tax exemption.
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