TaxTMI 
TaxTMI 
Income-tax Amendment (Thirteenth Amendment) Rules, 2022
X X X X Extracts X X X X
X X X X Extracts X X X X
....the purposes of clause (23FE) of section 10 of the Act, the percentages referred to in item (c), item (d) and item (e) of sub-clause (iii) , and the exempt income referred to in the fourth, fifth and sixth proviso shall be calculated in accordance with this rule. (2) The percentage referred to in item (c) of sub-clause (iii) of clause (23FE) of section 10 of the Act shall be calculated in the following manner, namely:- (A+C+D)/B * 100 Where,- A = Aggregate of eligible investments, appearing in the balance sheet of the Alternative Investment Fund as on the last date of all the financial years starting from the financial year 2021-22 and ending on the financial year immediately preceding the relevant previous year, made in one or more of the company or enterprise or entity referred to in item (b) of sub-clause (iii) of clause (23FE) of section 10 of the Act or in an Infrastructure Investment Trust referred to in sub-clause (i) of clause (13A) of section 2 of the Act; B= Aggregate of eligible investments appearing in the balance sheet of the Alternative Investment Fund as on the last date of all the financial years starting from the financial yea....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n satisfied if the same is satisfied for the financial year 2024-25 being the relevant previous year. (3) The percentage referred to in item (d) of sub-clause (iii) of clause (23FE) of section 10 of the Act shall be calculated in the following manner, namely:- E /F * 100 Where,- E = Aggregate of eligible investments, appearing in the balance sheet of the domestic company as on the last date of all the financial years starting from the financial year 2021-22 and ending on the financial year immediately preceding the relevant previous year, made in one or more of the company or enterprise or entity referred to in item (b) of sub-clause (iii) of clause (23FE) of section 10 of the Act; and F= Aggregate of eligible investments appearing in the balance sheet of the domestic company as on the last date of all the financial years starting from the financial year 2021-22 and ending on the financial year immediately preceding the relevant previous year: Provided that in the case of financial year 2021-22 being the relevant previous year, the above amounts shall be calculated using the aggregate of eligible investments, appearing in the balance ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....financial company, the above amounts shall be calculated using the aggregate of eligible lending appearing in its balance sheet of the relevant previous year as on the last date of that year: Provided also that for the financial year 2025-26 being the relevant previous year and for subsequent relevant previous years, the percentage referred to in item (e) of sub-clause (iii) of clause (23FE) of section 10 of the Act shall be deemed to have been satisfied if the same is satisfied for the financial year 2024-25 being the relevant previous year. (5) For the purposes of the fourth proviso to sub-clause (iii) of clause (23FE) of section 10 of the Act, the income accrued or arisen or attributed to, or received by, the specified person, who is a unit holder of an Alternative Investment Fund, out of investment made in that fund, shall be chargeable to income-tax in the same manner as if it were the income accrued or arisen or attributed to, or received by, such person had the investment made by such investment fund been made directly by him and the calculation of exempt income of the specified person arising from the investment in such fund during the relevant previous year sha....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ted or received during the relevant previous year from the investment made by the specified person in one or more domestic companies referred to in item (d) of sub-clause (iii) of clause (23FE) of section 10 of the Act, computed in accordance with the provisions of the Act; N = Aggregate of eligible investments, appearing in the balance sheet of the domestic company as on the last date of the previous year immediately preceding the relevant previous year (last date of the relevant previous year if eligible investment has been made during the relevant previous year for the first time), made by domestic company in one or more of the company or enterprise or entity referred to in item (b) of sub-clause (iii) of clause (23FE) of section 10 of the Act, out of investment made by the specified person on or after the date of notification of the specified person under the said clause; and O = Aggregate of investments, appearing in the balance sheet of the domestic company as on the last date of the previous year immediately preceding the relevant previous year (last date of the relevant previous year if eligible investment has been made during the relevant previou....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd non-banking finance company under section 140 of the Act. (10) Form No. 10BBD shall be furnished on or before the due date referred to in the Explanation 2 to subsection (1) of section 139 of the Act for the assessment year relevant to the previous year in which the eligible investments have been first received from the specified person and all subsequent previous years till the eligible investment received from the specified person is returned. (11) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall - (i) specify the procedure, formats and standards for ensuring secure capture and transmission of the data in Form No. 10BBD; and (ii) specify the procedure, format, data structure, standards and manner of generation of electronic verification code, referred to in sub-rule (9), for verification of the person furnishing the said Form; and (ii) be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the Form No 10BBD so furnished. Explanation 1: For the purposes of this rule, the expressions - ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ed, namely :- "Form No. 10BBB* [See rule 2DB] [e-Form] Intimation by Pension Fund of investment under clause (23FE) of section 10 of the Income-tax Act, 1961 (within one month from the end of the quarter ending on 30th June, 30th September, 31st December and 31st March of the financial year) Part A General Information S.no 1. Quarter Ending June 30th /September 30th / December 31st / March 31^st 2. Financial Year Y Y y y - y y y y 3. Name of Pension Fund 4. PAN 5. Details of Notification vide which notified under clause (23FE) of section 10 of the Income-tax Act, 1961 Notification No Date of Notification Part B Particulars of Investment Sl No Date of investment Amount of investment (in Rs) Nature of investment (Note 3) $ Nature of income (Note 4) # Details of the entity in which Investment made Nature of entity (Note 5) ^ Name PAN (1) (2) (3) (4) (5) (6) (7) (8) 1. &....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 10 of the Income-tax Act, 1961 by the notified Pension Fund Part- I I/ We* hereby confirm that I/ we* have examined the relevant accounts, documents and records of _____________________________________(name of the Pension Fund) having PAN _______________________ and which has been notified under clause (23FE) of section 10 vide Notification no ___________dated________(DDMMYYYY), for the period from _________(DDMMYYYY) to ____________(DDMMYYYY) and after examination, the particulars provided in Part II are hereby certified. Part II 1. Name of the Assessee : 2. PAN/ AADHAAR : 3. Previous Year : 4. Total Income of the Assessee during the previous year 5. Total amount of income eligible for exemption under clause (23FE) of section 10 of the Income-tax Act, 1961 (as per details in column 11 of table at item no.6): 6. (a) the opening balance (i.e. the closing balance as on the last date of the preceding financial year) of the investment made which is eligible for exemption under clause (23FE) of section 10: (b) details of the investment by the Pension Fund during the previous year: Sl No Date of investment Amount of investment (In Rs) Nature of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nbsp; b) Details of the funds or plans for which the PF is responsible for administering or investing the assets for: Name of the fund/ plan Purpose for which plan/fund is established (Note 6 $$ Nature of the fund/plan (Note7) ## Percentage of value of assets received from each plan/fund to total value of assets administered orinvested by the PF c) If some of the funds/plans administered or invested by the PF are in the nature of SWF, then whether they fulfill the following conditions: (i) assets of these funds/plans are wholly owned directly or indirectly by the Government of a foreign country; and (ii) such assets vests in the Government of such foreign country upon dissolution. Yes/No d) whether portion of the earnings or assets of the Pension Fund inures any benefit to any private person (other than for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in clause (ii) of the rule 2DB; or for any payment made to creditors or depositors for loan or borrowing [as defined in sub-clause (b) of clause (ii) of Explanation 2 to clause (23FE) of secti....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Verified today the ___________ day of ______________ Place __________ (Signature and Stamp/ Seal of the Signatory) †Accountant____________________ Name of the Signatory___________________ Membership No.__________________ Notes: 1. *Delete whichever is not applicable. 2. †This certificate is to be given by an accountant as defined in the Explanation below sub-section (2) of section 288 of the Act. 3. $One of the following codes is to be selected: Nature of Investment Code Debt 1 Equity 2 Preference Shares 3 Others (Please specify) 4 4. #One of the following codes is to be selected: Nature of Income Code Interest 1 Dividend 2 Capital Gains 3 Others 4 5. ^One of the following codes is to be selected: Nature of entity in which investment is made Code Business Trust referred to in item (a) of sub-clause (iii) of clause (23FE) of section 10 of the Act 1 Company or enterprise or entity referred to in item (b) of sub-clause (iii) of clause (23FE) of section 10 of the Act 2 Alternative Investment Fund referred to in item (c) of sub-clause (iii) of clause (23F....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Part B (Details of all the investments made out of the eligible investments listed in Part A (to be filed separately for each specified person or Alternative Investment fund) I. Name of the specified person/ Alternative Investment fund II. Sl no in Part A Date of investment Nature of investment (Note C) $ Details of the entity in which Investment is made Opening balance of the investment (In Rs) Amount of investment made during the year (In Rs) Amount of investment sold/liquidate d during the year (In Rs) Date of investment or date of sale/liquidation, as the case may be Closing balance of the investment (In Rs) Nature of income (note D) Amount of income on investment during the year (In Rs) Out of the income in column 12, nature of income to the specified person/ Alternative Investment Fund (note D) (In Rs) * Amount of income to the specified person/ Alternative Investment Fund (In Rs) Nature of entity (note E) ** Name of the entity PAN of the entity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) Declaration I, __________________________________________________________________ (Name in full and in block letters) son/daughter/wife.................on behalf of the .......................(Name of Alternative Investment Fund, domestic company and non-banking finance company) __________________________________________ do hereby declare that to the best of my knowledge and belief what is stated in the form above is correct and complete; I further declare that I am furnishing such statement in my capacity as_____________________________ (designation) and that I am competent to make this declaration and furnish this statement. Place: Date: Yours faithfully, Signature ..................................