Income of a specified person from an investment made in India - Pension fund, namely, Teacher Retirement System of Texas notified.

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.... 2022 (INCOME-TAX) S.O. 5080(E).-In exercise of the 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, Teacher Retirement System of Texas (PAN: AAATT9387R), (hereinafter referred to as "the assess....

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....n a certificate 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 i....

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.... 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; (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 th....

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....the investment with the investee including the right to appoint directors or executive director 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....