Circular No. 9/2022 — Guidelines for 10(23FE) — sovereign wealth funds
Date: 2022-05-09 Status: ACTIVE Category: Exemptions Binding on Department: Yes (Section 119 / Section 400 IT Act 2025)
Summary
Guidelines for exemption of sovereign wealth funds and pension funds under section 10(23FE).
Key Directions
- Exemption for specified income from investments in India.
- Minimum investment commitment Rs.3,000 crore.
- Investment held for minimum 3 years.
- Detailed annual reporting required.
Applicability Under IT Act 2025
Saving Clause: Section 536 of IT Act 2025 saves circulars issued under the 1961 Act “so far as not inconsistent” with the new Act.
| Old Section (1961 Act) | New Section (2025 Act) | Consistent? |
|---|---|---|
| 10(23FE) | 19 | Yes |
Cross-References
Act Sections
- Section 10(23FE)
- Section 19
Related Circulars
- None identified
Key Case Law (Circular Supremacy)
- To be populated — cases where this circular was cited/applied
Full Text
Full text to be added — see raw/circulars/ for PDF when available
Source
- Official: incometaxindia.gov.in/circulars