Insolvency and Bankruptcy Board of India Eligible For Income Tax Exemption On Grant-In-Aid, Fine, Fee, Interest Income: CBDT

The Central Board of Direct Taxes (CBDT) has notified that the Insolvency and Bankruptcy Board of India shall be eligible for the income tax exemption under clause (46) of section 10 of the Income-tax Act, 1961.The grants-in-aid received from the Central Government, the fees and fines received under the Insolvency and Bankruptcy Code, 2016, and interest income accrued by the Insolvency...