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

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 80/2023 New Delhi, the 22nd September, 2023 INCOME-TAX S.O. 4193(E) . In exercise of the powers conferred by clause (da) of section 43B of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following classes of non-banking financial companies (NBFCs), for the purpose of the said clause, namely: (a) all NBFCs classified in the Top Layer; (b) all NBFCs classified in the Upper Layer; (c) all NBFCs classified in the Middle Layer. Explanation. The classification of NBFCs in the Top Layer, Upper Layer and Middle Layer shall be according to the Reserve Bank of India s guidelines contained in Circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021. 2. This notification shall come into force from the date of its publication in the Official Gazette. [F. No. 370142/31/2023-TPL] JIVITESH ANAND, Under Secy.