The film has been nominated in categories like: Best Album, Best Playback Singer (Male), Best Playback Singer (Female), Music Composer of the Year and Song of the Year, read a statement.
Sharat Katariya's "Dum Lagake Haisha" and Mohit Suri's "Hamari Adhuri Kahani" follow "Bajirao Mastani" in the nominations list.
Among playback singers, Arijit Singh and Shreya Ghoshal lead the pack with three nominations each.
TOIFA 2016 Dubai, presented by Gulf Air and Splash, will take place at the Dubai International Stadium in Dubai Sports City on March 18.
The awards gala will witness performances by Bollywood celebrities like Shah Rukh Khan, Varun Dhawan, Jacqueline Fernandez, Kareena Kapoor Khan and Yo Yo Honey Singh.