Overseas Financial Organisation - Definition / Legal Terminology - Income Tax

Explanation (a) - For the purposes of section 115AB of the Income tax Act 1961. Overseas financial Organisation means - any fund, institution, association or body, whether incorporated or not, established under the laws of a country outside India, which has entered into an arrangement for investment in India with any public sector bank or public financial institution or a mutual fund specified under clause ( 23D ) of section 10 and such arrangement is approved by the Securities and Exchange Board of India, established under the Securities and Exchange Board of India Act, 1992, for this purpose;