https://www.taxtmi.com/notifications?id=137560 The amendment requires that a Sovereign Wealth Fund's earnings be credited to a government-designated account so no benefit inures to private persons (except certain creditor or depositor payments), prohibits loans or borrowings to finance investments in India, provides that assets vest in the foreign government on dissolution subject to limited exceptions, and bars day-to-day participation in investees while allowing monitoring and director appointment rights. It replaces the Annexure with a mandatory audited report and detailed disclosure schedule certifying compliance, listing investments, early sales, ownership and control, intimation compliance, borrowings, and maintenance of segregated accounts. en-us Tue, 25 Jan 2022 00:00:00 +0530 Tue, 01 Mar 2022 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=137560 The amendment requires that a Sovereign Wealth Fund's earnings be credited to a government-designated account so no benefit inures to private persons (except certain creditor or depositor payments), prohibits loans or borrowings to finance investments in India, provides that assets vest in the foreign government on dissolution subject to limited exceptions, and bars day-to-day participation in investees while allowing monitoring and director appointment rights. It replaces the Annexure with a mandatory audited report and detailed disclosure schedule certifying compliance, listing investments, early sales, ownership and control, intimation compliance, borrowings, and maintenance of segregated accounts. Notifications Income Tax Tue, 25 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/notifications?id=137560