Central Government notifies non-banking financial companies (NBFCs) u/s 43B to be classified as Top Layer, Upper Layer and Middle Layer - 80/2023 - Income Tax Act, 1961
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Classification of NBFCs under section 43B notifies Top, Upper and Middle Layer status per RBI guidelines. Notification under clause (da) of section 43B notifies NBFCs classified in the Top Layer, Upper Layer and Middle Layer as the classes covered by that clause, with the layer definitions to be those in the Reserve Bank of India's circular dated October 22, 2021. The notification becomes effective from its publication in the Official Gazette.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Classification of NBFCs under section 43B notifies Top, Upper and Middle Layer status per RBI guidelines.
Notification under clause (da) of section 43B notifies NBFCs classified in the Top Layer, Upper Layer and Middle Layer as the classes covered by that clause, with the layer definitions to be those in the Reserve Bank of India's circular dated October 22, 2021. The notification becomes effective from its publication in the Official Gazette.
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