Income of a specified person arising from an investment made by it in India - Pension fund, namely, 2589555 Ontario Limited specified.

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....ber, 2022 (INCOME-TAX) S.O. 4872(E).-In exercise of powers conferred by sub-clause (iv) of 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, 2589555 Ontario Limited (PAN: AABCZ1393D), (hereinafter referred to as "the assessee") as the....

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....tificate in Form No. 10BBC in respect of compliance to the provisions of clause (23FE) of section 10 of the Act, during the financial 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 investm....

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....e participants or beneficiaries of such funds or plans, as the case may be; (vii) the earnings and assets of the assessee should be used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in clause (vi) and no portion of the earnings or assets of the pension fund inures any benefit to any other private person; b....

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....ector shall not be considered as participation in the day to day operations of the investee. 2. Violation of any of the conditions as stipulated in the said clause (23FE) of section 10 of the Act and this notification shall render the assessee ineligible for the tax exemption. 3. This notification shall come into force from the date of its publication in the Official Gazette. [F. No. 500/....