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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th August, 2022 (INCOME-TAX) S.O. 3867(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,
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FAQ :
CPPIB India Private Holdings Inc. is being notified for an exemption under Section 10(23FE) of the Income-tax Act, 1961.
Eligible investments made in India on or after the notification date but before 31st March 2024 qualify for this exemption.
Key conditions include filing income tax returns on time, furnishing a certificate in Form No. 10BBC, intimating investment details in Form No. 10BBB, maintaining segmented accounts, and continuing to be regulated under Canadian law.
Violation of any stipulated conditions will render the assessee ineligible for the tax exemption.
This notification comes into effect from the date of its publication in the Official Gazette.
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