Method of calculation of the eligible investment and exempt income in respect of Sovereign Wealth Fund and Pension Fund u/s 10(23FE)
CBDT has made amendment of the Income tax Rules, 1962 for providing the method of calculation of the eligible investment and exempt income in respect of Sovereign Wealth Fund and Pension Fund under section 10(23FE) of the Income tax Act, 1961.
Income-tax Amendment (Thirteenth Amendment) Rules, 2022 notified by CBDT vide Notification No. 50/2022 has inserted a new Rule 2DCA as under:
Rule 2DCA Computation of minimum investment and exempt income for the purposes of clause (23FE) of section 10 of the Income Tax Act 1961
Further, Form No. 10BBB of Intimation by Pension Fund of investment under clause (23FE) of section 10 has also been substituted.
Download CBDT Notification Click Here >>
- No protective addition required when additions is confirmed in hands of searched person – ITAT
- Limitation u/s 34 of Arbitration Act commences on disposal of application u/s 33 by Arbitral Tribunal – SC
- Case remanded in absence of finding if disallowance u/s 40A(3) covered by Rule 6DD
- For investment in share capital, source of investment is outside the control of the investee company
- ICAI issues revised Code of Ethics (13th edition)- Applicable Dates
 – Notification){kind=link}