Specified pension fund designation enables tax exemption for qualifying investments in India, subject to prescribed compliance conditions. 2452991 Ontario Limited is specified as a specified person for the income tax exemption on eligible investments in India made from publication until the stated terminal date, conditional on compliance with filing obligations, certified compliance in prescribed form, quarterly investment disclosures, segmented accounting, regulation under Canadian law, asset use limited to statutory obligations and defined contributions for retirement and similar plans, prohibition on borrowings for Indian investments, limits on non qualifying assets, and restrictions on participation in investee day to day operations.
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 enables tax exemption for qualifying investments in India, subject to prescribed compliance conditions.
2452991 Ontario Limited is specified as a specified person for the income tax exemption on eligible investments in India made from publication until the stated terminal date, conditional on compliance with filing obligations, certified compliance in prescribed form, quarterly investment disclosures, segmented accounting, regulation under Canadian law, asset use limited to statutory obligations and defined contributions for retirement and similar plans, prohibition on borrowings for Indian investments, limits on non qualifying assets, and restrictions on participation in investee day to day operations.
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