TaxTMI 
TaxTMI 
Income-tax (20th Amendment) Rules, 2020.
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.... their publication in the Official Gazette. 2. In the Income-tax Rules, 1962,- (i) after rule 2DA, the following rules shall be inserted, namely: - "2DB. Other conditions to be satisfied by the pension fund. - For the purposes of clause (23FE) of section 10, the pension fund shall be required to satisfy the following other conditions, namely: - (i) it is regulated under the law of a foreign country including the laws made by any of its political constituents being a province, state or local body, by whatever name called, under which it is created or established, as the case may be; (ii) it is responsible for administering or investing the assets for meeting the statutory obligations and defined contributions of one or more funds or ....
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....oard of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi during the financial year 2020-2021; (ii) Member, Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi having supervision and control over the work of Foreign Tax and Tax Research Division during the other financial years. (2) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall lay down the data structure, standards and procedure of furnishing and verification of Form No 10BBB and Form No 10BBC, and shall be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said....
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....ed contributions of one or more funds or plans established for providing retirement, social security, employment, disability, death benefits or any similar compensation to the participants or beneficiaries of such funds or plans, as the case may be; (d) the earnings and assets of the pension fund are used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in (c) above and no portion of the earnings or assets of the pension fund inures any benefit to any other private person; and (e) the pension fund does not undertake any commercial activity whether within or outside India. 3. In support of the claims made above, the following documents are attached: (a) do....
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.... the quarter ending ________ of the Financial Year _________ in respect of ___________________________ (Name of the Pension Fund) having PAN __________ and notified under clause (23FE) of section 10 of the Income-tax Act, 1961 vide notification no_____________, dated _____________ (DDMMYYYY) as under: Sl. No. Date Amount Nature [Debt/ Share Capital (Equity/ Preference)/ Unit] Rate of Dividend, if any, (Preference Share/ Unit)/ Interest (Debt) Details of the entity in which Investment made Business Trust/ Company or enterprise or entity/ Alternative Investment Fund Name PAN (1) (2) (3) (4) (5) (6) (7) (8) 1. 2. Total Verification* I, ___________________, son/ daughter/ wife** of Shri _______________,solemnly declare t....
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....emption under clause (23FE) of section 10 is ______________(in rupees) and details of the investment by the Pension Fund during the period are as under: Sl. No. Date Amount Nature [Debt/ Share Capital (Equity/ Preference)/ Unit] Rate of Dividend, if any, (Preference Share/ Unit)/ Interest (Debt) Details of the entity in which Investment made Business Trust/ Company or enterprise or entity/ Alternative Investment Fund Name PAN (1) (2) (3) (4) (5) (6) (7) (8) 1. 2. Total (ii) *the pension fund has not sold any of the investments made for the purposes of exemption under clause (23FE) of section 10 of the Income-tax Act, 1961 before the expiry of three years from the date on which the investment was made in respect of the ....
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.... (d) its earnings and assets are used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in at clause (ii) and no portion of the earnings or assets of the pension fund inures any benefit to any other private person; (e) it does not undertake any commercial activity whether within or outside India; and (f) it has complied with the requirement of intimation of the details of investment made by it in India in Form No 10BBB. Verification† It has been ensured that the information furnished is true and correct in all respects and no relevant information has been concealed or withheld. 2. Neither I, nor any of my partners, is a director, partner or an empl....