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Notification No. 3/2022 Central Board Of Direct Taxes
January, 14th 2022

(Department of Revenue)

New Delhi, the 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.

[Notification No. 3 /2022/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.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

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