TaxTMI 
TaxTMI 
Central Government specifies the pension fund, namely, the Government Employees Superannuation Board
X X X X Extracts X X X X
X X X X Extracts X X X X
.... clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the "Act"), the Central Government hereby specifies the pension fund, namely, the Government Employees Superannuation Board, (hereinafter referred to as "the assessee") as the specified person for the purposes of the said clause in respect of the eligible investment ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nancial year, from an accountant as defined in the Explanation below sub-section (2) of section 288 of the Act, as per the provisions of clause (vi) of rule 2DB of the Income-tax Rules, 1962; (iii) the assessee shall intimate the details in respect of each investment made by it in India during the quarter within one month from the end of the quarter in Form No. 10BBB, as per the provisions of cl....
X X X X Extracts X X X X
X X X X Extracts X X X X
....invested by the assessee are allowed for the purpose other than the purpose listed at clause (vi) provided such assets are wholly owned directly or indirectly by the Government of Australia and such assets vest in the Government of Australia upon dissolution; (viii) the earnings and assets of the assessee should be used only for meeting statutory obligations and defined contributions for partici....
X X X X Extracts X X X X
X X X X Extracts X X X X
....l not have any loans or borrowings [as defined in sub-clause (b) of clause (ii) of Explanation 2 to clause (23FE) of section 10 of the Act], directly or indirectly, for the purposes of making investment in India; and (xi) the assessee shall not participate in the day to day operations of investee [as defined in clause (i) of Explanation 2 to clause (23FE) of section 10 of the Act] but the monito....