Income TaX

When an offshore fund relocates to an International Financial Services Centre, section 10(23FF) exempts capital gains on shares of an Indian company to the extent attributable to non-resident unit holders. Form 10-IJ is the accountant’s certificate supporting that computation under Rule 2DD. This guide covers the mechanism, the Form 10-II link, UDIN, and the 2025 Act position.

A notified Sovereign Wealth Fund claiming exemption under section 10(23FE) must file a return of income together with an audit report. This guide explains who the filing applies to, the conditions the fund must satisfy, how it fits with Form I and the quarterly Form II, the extended investment window, and where section 10(23FE) sits under the Income-tax Act, 2025.

Form 3CB is the audit report furnished under section 44AB(a) where the taxpayer’s accounts are not required to be audited under any other law. This guide covers applicability, the ₹1 crore and ₹10 crore thresholds, documents, the issuing process, penalties, and how Form 3CB is replaced by Part D of Form No. 26 from tax year 2026-27.