Notification of Harmonised Master List of Infrastructure Sub-sectors for the purposes of section 10(23FE) of the Income-tax Act, 1961

Last updated: 08 July 2020

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This notification from the Ministry of Finance specifies the updated Harmonised Master List of Infrastructure Sub-Sectors relevant to Section 10(23FE) of the Income-Tax Act, 1961. Businesses operating within these specified sub-sectors may be eligible for benefits under the Act. The list is based on a previous notification from August 2018, with a clarification that businesses already covered by item (b) of the section are excluded. This new list comes into effect from April 1, 2021, and applies to assessment year 2021-22 and onwards.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6 th July, 2020 INCOME TAX S.O. 2227E).In exercise of the powers conferred by item (b) of sub-clause (iii) of clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies business, for the purposes of said item (b), to be the business which is engaged in the infrastructure sub-sectors mentioned in Updated Harmonised Master

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1 Year PLAN - Rs.~~1999~~

1799

(Excl. of GST ₹323)

2 Years PLAN - Rs.~~3499~~

3149

(Excl. of GST ₹566)

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4499

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FAQ :

This notification specifies the Harmonised Master List of Infrastructure Sub-Sectors for the purposes of section 10(23FE) of the Income-tax Act, 1961.

This notification comes into force from the 1st day of April, 2021.

This notification is applicable for assessment year 2021-22 and subsequent assessment years.

The specified sub-sectors are based on the Updated Harmonised Master List of Infrastructure Sub-Sectors published in the Gazette of India on 13th August, 2018.

No, the reference to the infrastructure sub-sectors shall not include businesses already provided for in item (b) of the said section 10(23FE).

Notification No : 44/2020
Source : https://www.incometaxindia.gov.in/communications/notification/notification_44_2020.pdf

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