Rule 282 lists the other conditions a foreign pension fund must meet to be notified under Schedule V [Table: Sl. No. 7, Note 5(a)(iii)] — regulation under foreign law, a retirement-benefit purpose, no private benefit from earnings or assets, quarterly reporting of Indian investments in Form No. 175, and a return with an accountant's certificate in Form No. 176 — and the application for notification.
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Rules 2026 · Rule 282
Notification of pension fund and other conditions to be satisfied by the pension fund
Rules 261-310
Conditions (sub-rule 1). The fund (a) is regulated under the law of a foreign country, including laws of its provinces, States or local bodies; (b) administers or invests assets to meet the statutory obligations and defined contributions of funds or plans providing retirement, social security, employment, disability, death or similar benefits; (c) is deemed to meet (b) for assets that are no more than 10% of its total assets, wholly owned directly or indirectly by a foreign Government and vest in that Government on dissolution; (d) uses its earnings and assets only for those obligations, with no benefit to any private person, subject to exceptions for payments to creditors or depositors on borrowing not for investing in India and for earnings credited to the foreign Government's account; (g) intimates details of each investment made in India during a quarter within one month from the quarter's end in Form No. 175; and (h) files its return of income by the section 263(1)(c) due date with a compliance certificate in Form No. 176 from an accountant under section 515(3)(b). "Loans and borrowings" have the meaning in Schedule V [Table: Sl. No. 7, Note 5(c)].
Application (sub-rule 2). For notification under Schedule V [Table: Sl. No. 7, Note 5(a)(iii)(D)], the pension fund applies, in the prescribed form, to the Member of the Central Board of Direct Taxes who supervises the Foreign Tax and Tax Research Division. The form number is garbled in the PDF text of the Rules.