Central Government notifies non-banking financial companies (NBFCs) u/s 43D to be classified as Top Layer, Upper Layer and Middle Layer - 79/2023 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 79/2023 New Delhi, the 22nd September, 2023 INCOME-TAX S.O. 4192(E). In exercise of the powers conferred by section 43D 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 section, 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.