The CBDT vide Notification No. 89/2023, dated October 13, 2023, designates Stichting Pensioenfonds ABP as an eligible pension fund for tax exemption on investments in India made until March 31, 2024. It imposes conditions like filing timely income returns, providing compliance certificates, and maintaining separate accounts for qualifying investments. The fund must continue to be regulated under Dutch laws, support statutory obligations and defined contributions, and not engage in certain financial activities. Violation of these terms results in tax exemption loss. The notification is effective upon publication in the Official Gazette.
The Notification can be accessed at: https://egazette.gov.in/WriteReadData/2023/249418.pdf