CBDT Notification No. 5/2024 Dated. 4 January 2024 – Corrigendum
CBDT Notification 5/2024: In the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 89/2023/F.No.500/PF11/S10(23FE)/FT&TR-II(2), dated 13.10.2023, published in Part-II, Section 3, Sub-section (ii) of the Gazette of India vide number S.O. 4501(E).
Vide this Notification No. 5/2024 Dated 4 January 2024, the Central Board of Direct Taxes (CBDT) has issued a Corrigendum as follows:
“Notification No.89/2023 may be read as Notification No. 89A/2023”.
Explanatory Note:
Vide Notification 89/2023 Dated 13.10.2023, the Central Government specified the pension fund, namely, the Stichting Pensioenfonds ABP (PAN: AACCS2647E), as the specified person for the purposes of the Clause (23FE) of Section 10 of Income-Tax Act, in respect of the eligible investment made by it in India on or after the date of publication of the notification in the Official Gazette but on or before the 31st day of March, 2024, subject to the fulfilment of the certain conditions.
As per clause (23FE) of section 10 of the Income-Tax Act, any income of a specified person in the nature of dividend, interest or long-term capital gains arising from an investment made by it in India, whether in the form of debt or share capital or unit, is exempt from income tax subject to certain conditions.
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