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of <h1>Finance Bill 2020: Tax Exemption for ADIA Subsidiaries & Sovereign Wealth Funds on Indian Infrastructure Investments.</h1> The Finance Bill 2020 proposes an exemption under Section 10 for certain incomes of wholly owned subsidiaries of the Abu Dhabi Investment Authority (ADIA) and sovereign wealth funds. This exemption applies to income from dividends, interest, or long-term capital gains from investments in Indian infrastructure or other notified businesses. To qualify, investments must be made by March 31, 2024, and held for at least three years. A 'specified person' includes a wholly owned subsidiary of ADIA or a sovereign wealth fund meeting specific criteria, including government ownership and non-commercial activity. The amendment is effective from April 1, 2021, for the 2021-22 assessment year onwards.
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