MANU/CBDT/0002/2023

Ministry : Ministry of Finance

Department/Board : CBDT

Notification No. : 02/2023

Date of Notification : 25.01.2023

Date of Publication : 25.01.2023

Central Government specifies California Public Employees Retirement System as the specified person for the purposes of section 10(23FE) of the Income-tax Act, 1961 in respect of the eligible investment made by it in India on or after the date of publication of notification

S.O.400(E).--In exercise of 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, the California Public Employees Retirement System (PAN: AAATC6038J), (hereinafter referred to as "the assessee") as the specified person for the purposes of the said clause in respect of the eligible investment made by it in India on or after the date of publication of this notification in the Official Gazette but on or before the 31st day of March, 2024 (hereinafter referred to as the "the said investments") subject to the fulfillment of the following conditions, namely:-

1.     (i) the assessee shall file return of income, for all the relevant previous years falling within the period beginning from the date in which the said investment has been made and ending on the date on which such investment is liquidated, on or before the due date specified for furnishing the return of income under sub-section (1) of section 139 of the Act;

(ii) the assessee shall furnish along with such return 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 ea........