CBDT extends Income Tax Exemption for Sovereign Wealth and Pension Funds u/s 10(23FE) of Income Tax Act

The CBDT (Central Board of Direct Taxes) has extended income tax exemption for sovereign wealth and pension funds under Section 10(23FE) of the Income Tax Act. This extension is a strategic move to attract further long-term foreign investment into India, particularly in infrastructure and other key sectors. By providing continued tax certainty, the government aims to encourage global institutional investors to deploy capital in India, fostering economic growth and development. This policy signal reinforces India's commitment to being an attractive destination for stable, long-term foreign capital.