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of <h1>India Exempts Insolvency Board's Specified Income from Tax u/s 10(46) for FY 2022-2027.</h1> The Central Government of India has notified the Insolvency and Bankruptcy Board of India, New Delhi, as a Board under section 10(46) of the Income-tax Act, 1961. This notification exempts specified income of the Board, including grants-in-aid from the Central Government, fees, fines collected under the Insolvency and Bankruptcy Code, 2016, and interest income on these amounts, from taxation. The Board must not engage in commercial activities, maintain the nature of specified income, and file income returns as per the Act. This notification is effective for the financial years 2022-2023 to 2026-2027.
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