Pension fund Inbar Holding RSC Limited specified for tax exemption on eligible Indian investments subject to conditions. Inbar Holding RSC Limited is specified as a specified person under clause (23FE) of section 10 for eligible investments in India until 31 March 2030, subject to conditions: file timely returns for relevant years; quarterly disclosure in Form No.10BBB; annual Form No.10BBC certification by an accountant; maintain segmented accounts for exempt investments; remain regulated under Abu Dhabi or UAE law; administer or invest assets solely to meet statutory obligations and defined contributions for retirement/social security plans; restrict earnings and assets to beneficiaries or permitted creditor repayments; prohibit borrowings for making investments in India; and avoid day-to-day participation in investees while retaining monitoring rights. Violation causes ineligibility for the exemption.
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.
Pension fund Inbar Holding RSC Limited specified for tax exemption on eligible Indian investments subject to conditions.
Inbar Holding RSC Limited is specified as a specified person under clause (23FE) of section 10 for eligible investments in India until 31 March 2030, subject to conditions: file timely returns for relevant years; quarterly disclosure in Form No.10BBB; annual Form No.10BBC certification by an accountant; maintain segmented accounts for exempt investments; remain regulated under Abu Dhabi or UAE law; administer or invest assets solely to meet statutory obligations and defined contributions for retirement/social security plans; restrict earnings and assets to beneficiaries or permitted creditor repayments; prohibit borrowings for making investments in India; and avoid day-to-day participation in investees while retaining monitoring rights. Violation causes ineligibility for the exemption.
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