Laws and sections by number or title, due dates, pages, and updates.
The Central Government notifies the specified income of the Insolvency and Bankruptcy Board of India under section 10 clause 46 of the Income-tax Act, 1961. The specified income includes grants from the Central Government, fees and fines under the Insolvency and Bankruptcy Code, 2016, and related interest income. The Board must not engage in commercial activity. The activities and nature of income must remain unchanged throughout the financial years. The Board must file a return of income under section 139 sub-section 4C clause g. This notification applies to the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026, and 2026-2027.
What you must do
Key dates
Law this touches
Who is affected
Ask about this notification
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st March, 2023
S.O. 947(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Insolvency and Bankruptcy Board of India’, New Delhi (PAN AAAGI0193K), a Board established by the Central Government, in respect of the following specified income arising to that Board, namely:
[Notification No. 09/2023/F.No.300196/39/2021-ITA-I] SOURABH JAIN, Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
