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Extension of date of making investment by Sovereign Wealth Funds, Pension Funds others and rationalisation of tax exemptions Clause (23FE) of section 10 of the Act provides for the exemption to specified persons from the income in the nature of dividend, interest, long-term capital gains or certain other incomes arising from an investment made by it in India. Specified persons inter alia are the Sovereign Wealth Fund (SWF), Pension Fund (PF) which fulfills conditions prescribed therein and are
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1999
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FAQ :
The deadline for making investments under clause (23FE) of section 10 has been extended to March 31, 2030.
Sovereign Wealth Funds (SWFs) and Pension Funds (PFs) that meet specified conditions are eligible for this tax relief extension.
The exemption covers income in the nature of dividend, interest, long-term capital gains, and certain other incomes arising from investments made in India.
The extension is intended to provide stability and a necessary timeframe for global investors, particularly SWFs and PFs, to contribute significantly to India's infrastructure development.
Yes, long-term capital gains arising from these investments will continue to be exempt, even if they are reclassified as short-term capital gains under section 50AA.
These amendments will be effective from April 1, 2025.
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