Tax exemption for Insolvency and Bankruptcy Board of India: specified grants, fees, fines and related interest exempt subject to conditions. Notification designates the Insolvency and Bankruptcy Board of India as a board for tax exemption of specified income consisting of grants in aid from the Central Government, fees and fines under the Insolvency and Bankruptcy Code, and interest on those receipts; the exemption is limited to those income categories and is subject to conditions that the Board not engage in commercial activity, that its activities and the nature of the specified income remain unchanged, and that it file its return of income as prescribed.