Govt. Approves Inbar Holding RSC Limited for Tax Benefits u/s 10(23FE) of Income-tax Act 1961

The Central Board of Direct Taxes (CBDT) under the Ministry of Finance (Department of Revenue) has released a notification dated January 05, 2026, informing that the Central Government has officially approved a pension fund named Inbar Holding RSC Limited to enjoy tax benefits for purposes stated under Section 10(23FE) of the Income-tax Act.

The government has taken this action in exercise of its powers granted under the sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961).

Through this approval, the government is treating the said pension fund as a “specified person” under the said section of the IT Act. Meaning, if Inbar Holding RSC Limited invests money in India after the effective date of the present notification or before March 31, 2030, then it will be able to enjoy tax exemption on the income generated from those approved investments, but only if it fulfils the following conditions:

1. The Inbar Holding RSC Limited must file income tax returns (ITRs) for all the relevant years, starting from the year in which the investment was made up to the year in which the investment is sold or withdrawn. These returns must be filed on or before the statutory due date as prescribed under section 139(1) of the Income-tax Act.

2. The Inbar Holding RSC Limited must disclose the information in regard to each investment made by it in India during the quarter within one month from the end of the quarter in Form No. 10BBB, according to clause (v) of rule 2DB of the Income-tax Rules, 1962.

3. The Inbar Holding RSC Limited must submit a certificate in Form No. 10BBC along with such return, as per clause (23FE) of section 10 of the Act.

4. The Inbar Holding RSC Limited must keep separate records of income and expenses for the investment that is eligible for tax exemption under section 10(23FE).

5. The Inbar Holding RSC Limited should continue to be regulated under the laws of the Government of Abu Dhabi, the Government of the United Arab Emirates, or both.

There are some other conditions too that Holding RSC Limited should comply with to be eligible for the purposes mentioned under Section 10(23FE) of the Income-tax Act.

Refer to the official notification for complete information.