Removing reference to National Housing Board in Section 43D of the Act (TAX ADMINISTRATION)

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..... sing finance, scheduled banks, co-operative banks other than primary agricultural credit societies, primary co-operative agricultural and rural development banks, State financial corporations, State industrial investment corporations and notified non-banking financial companies. 2. Clause (b) of section 43D of the Act states that in the case of a public company involved in housing finance, the inc .....

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..... ial Companies (NBFCs). In the Act, separate provisions already exist in section 43D with respect to NBFCs. 4. Hence, it is proposed to remove reference to National Housing Bank by omitting clause (b) of section 43D of the Act and clause (a) and (b) of Explanation to section 43D of the Act. 5. The amendment will take effect from the 1st day of April, 2025 and shall accordingly apply in relation to .....

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