CBDT Extends Income Tax Exemptions for Sovereign Wealth and Pension Funds

The Central Board of Direct Taxes (CBDT) has issued Notifications No. 66 to 92/2024 on July 18, 2024, amending previous notifications to extend income tax exemptions for various sovereign wealth funds and pension funds under Section 10(23FE) of the Income Tax Act 1961. The applicable date has been extended from March 31, 2024, to March 31, 2025.

Additionally, the CBDT issued Notification No. 93/2024 on July 19, 2024, to notify exemptions for AIMCo India Infrastructure Limited under the same section.

Key Points:

  • Extended Exemptions: The exemptions for sovereign wealth and pension funds are now valid until March 31, 2025.
  • Notifications: Extensions are covered under Notifications No. 66 to 92/2024.
  • New Exemption: AIMCo India Infrastructure Limited receives an exemption under Notification No. 93/2024.

For detailed information, refer to the official CBDT notifications.

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