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of <h1>Canadian pension fund granted tax exemption under Section 10(23FE) until 2030 with strict compliance conditions</h1> The Central Government specified a pension fund as an eligible entity under Section 10(23FE) of the Income-tax Act, 1961 for tax exemption on investments made in India until March 31, 2030. The notification establishes eleven conditions including filing annual returns with Form 10BBC certificates, quarterly investment reporting via Form 10BBB, maintaining segmented accounts, remaining regulated under Canadian law, and administering retirement/social security benefits. The fund must ensure no more than ten percent of assets serve purposes other than statutory obligations, with earnings restricted to participant benefits. The entity cannot borrow for Indian investments or participate in daily operations of investees, though monitoring mechanisms are permitted. Violation of any condition renders the fund ineligible for tax exemption.
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