https://www.taxtmi.com/notifications?id=135667 The Central Government designates the Ministry of Economy and Finance (Republic of Korea) as a specified person for the sovereign wealth fund tax exemption under clause (23FE) of section 10, for investments in India up to the specified cut-off, conditioned on timely tax return filing, prescribed statutory audit and annexed audit report, quarterly Form II disclosures, segmented accounts, sole ownership and control by the Republic of Korea, regulation under Korean law, earnings credited to government accounts, prohibition on use of borrowings for such investments, asset vesting on dissolution, and non-participation in investee day-to-day operations; breach renders exemption inapplicable. en-us Thu, 13 May 2021 00:00:00 +0530 Sun, 13 Jul 2025 00:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=135667 The Central Government designates the Ministry of Economy and Finance (Republic of Korea) as a specified person for the sovereign wealth fund tax exemption under clause (23FE) of section 10, for investments in India up to the specified cut-off, conditioned on timely tax return filing, prescribed statutory audit and annexed audit report, quarterly Form II disclosures, segmented accounts, sole ownership and control by the Republic of Korea, regulation under Korean law, earnings credited to government accounts, prohibition on use of borrowings for such investments, asset vesting on dissolution, and non-participation in investee day-to-day operations; breach renders exemption inapplicable. Notifications Income Tax Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/notifications?id=135667