Non-Banking Financial Company (NBFC) categorization - Amendment ...

Notes Income Tax

February 4, 2023

Non-Banking Financial Company (NBFC) categorization - Amendment made in sec 43B and 43D to substitute the words, “a deposit taking non-banking financial company or systemically important non-deposit taking non-banking financial company”, for the words “such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf”.

View Source

← Previous Next →

Non-Banking Financial Company (NBFC) categorization - Amendment ...

Notes Income Tax

February 4, 2023

You may also like:

External Commercial Borrowings (ECB) Policy – Non-Banking Financial Company – Infrastructure Finance Companies (NBFC-IFCs) - Circular

Income Tax: Clause 15 proposes to remove references to National Housing Bank from Section 43D of the Act and its Explanation, pertaining to income of public financial...

Prosecution proceedings - NBFC or not - Inadvertent/typographical error in recording of minutes - it was erroneously recorded in item no. 12 of the minutes that the...

Banking and Financial services Section 65(12) r.w.s 105)(zm) - Fixed amount charged as lease of equipment - the appellants are not a banking company or a financial...

Companies are required to file Form CSR-2 separately on or before December 31, 2024, after filing Form AOC-4, AOC-4-NBFC (Ind AS), or AOC-4 XBRL for the financial year...

Interest paid to bank disallowed – Applicability of section 43B - merger of non-scheduled bank with scheduled bank - e provisions of section 43B clearly apply after the merger - AT

Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial...

MAT applicability - Provisions of sec.115JB are not applicable to the banking company - AT

The core summary is that banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 are not covered...

Companies (Amendment) Ordinance, 2018 - President gives assent to promulgation of the Companies Amendment (Ordinance), 2018

Section 43B of the Income Tax Act disallows certain deductions for unpaid statutory dues like interest, tax, duty, etc. The key points are: Unpaid interest on loans from...

Scope of SCN - Banking and Other Financial Services - appellants is a non-banking financial institution - Only a company, corporation or cooperative society would fall...

Section 43B inapplicable to LIC Mutual Fund as it is not a Public Financial Institution u/s 4A of Companies Act, 1956. List of Public Financial Institutions is...

When the insurance companies, banking companies and electricity generation and distributions companies are treated in the same class as per the provisions of sec. 211 of...

National Financial Reporting Authority Amendment Rules, 2022 - Punishment in case of non-compliance - Notification

Quick Updates: