CBDT Specifies Inbar Holding RSC Ltd. As “Specified Person” Entitled To Tax Exemption On Certain Investments In India; No. 1/2026, Dated 5th January 2026

The Finance Ministry, through Notification, has exercised powers under the Income-tax Act to specify Inbar Holding RSC Limited (PAN: AAGCI2029C) as a “specified person” for the purposes of Explanation 1 to clause (23FE) of Section 10 of the Income-tax Act, 1961. Under this notification, eligible investments made by the pension fund in India on or after the date of publication of the notification and up to 31 March 2030 will be exempt from tax, provided certain conditions are met.

These conditions include timely filing of income-tax returns for all relevant years, quarterly reporting of investment details in Form No. 10BBB, submission of compliance certificates in Form No.10BBC, maintenance of segregated accounts for exempt income, continued regulation under Abu Dhabi/UAE law, administration of assets for defined retirement/social security obligations, no benefit inuring to private persons, no borrowings for making the Indian investments, and absence of participation in day-to-day operations of investee entities. Violation of any condition will render the pension fund ineligible for the exemption, which comes into force from the date of its publication in the Official Gazette.