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TMI BlogIncome-tax (11th Amendment) Rules, 2021. - Amends Rule 2DB. Other conditions to be satisfied by the pension fundX X X X Extracts X X X X X X X X Extracts X X X X ..... 1) These rules may be called the Income-tax (11th Amendment) Rules, 2021. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 2DB ,- (i) after clause (ii), the following proviso shall be inserted, namely: Provided that the condition in clause (ii) shall be deemed to have been satisfied with respect to assets being administered or invested, if the following conditions are satisfied; namely:- (a) value of such assets is not more than ten per cent. of the total value of the assets administered or invested by such fund; (b) such assets are wholly owned directly or indirectly by the Government o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dentification Number of the country of residence : (d) Country of residence : (e) Permanent Account Number (PAN) : 2.. It is hereby certified that- (a) the Pension Fund is created or established under the law of _____________ (please mention the name of the foreign country including any of its political constituents like province/state/local body etc.) and is regulated under that law; (b) the Pension Fund is not liable to tax in the foreign country mentioned at (a) above or if liable to tax, exemption from taxation for all its income has been provided by such foreign country; (c) the Pension Fund is responsible for administering or investing the assets for meeting the statutorily obligations and defined contributions of on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d either to the account of the Government of the foreign country mentioned at (a) or to any other account designated by such Government so that no portion of the earnings inures any benefit to any private person; (strike off whichever is not applicable) and (e) the Pension Fund does not participate in the day to day operations of investee ^ barring any monitoring mechanism to protect the investment with the investee including the right to appoint directors or executive director. 3. In support of the claims made above, the following documents are attached: (a) documents constituting the Pension Fund and any later amendment thereto, and (b) any other relevant document or information. Verification * I, ______________________ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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