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Notification No. 3/2022 [F. No. 300196/11/2021-ITA-I] / SO 145(E)

 Notice Date : 11 January 2022


(Department of Revenue)


New Delhi

Notification No. 3/2022-Income Tax

Dated: 11th January, 2022

S.O. 145(E).-In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘International Financial Services Centres Authority’, Gandhinagar, Gujarat (PAN AAAGI0596L), an authority constituted under sub-sections (1) and (3) of section 4 of the International Financial Services Centres Authority, Act, 2019 (50 of 2019), in respect of the following specified income arising to that Authority, namely:-

(a) Grant-in-aid received from Central Government;

(b) Fees and charges received by International Financial Services Centres Authority Act, 2019;

(c) Any other sums received by International Financial Services Centres Authority as decided by the Central Government; and

(d) Interest income accrued (a) to (c) above.

2. This notification shall be effective subject to the conditions that International Financial Services Centres Authority, Gandhinagar, Gujarat,-

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and

(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

3. This notification shall be deemed to have been applied for the financial year 2020-2021 and shall apply with respect to the financial years 2021-2022, 2022-2023, 2023-2024 and 2024-2025.

[F. No. 300196/11/2021-ITA-I]


Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification.


on 21 January 2022
Notification No : 3/2022-Income Tax
Published in Income Tax
Source : ,

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