The CBDT vide Notification No. 71/2023 dated September 12, 2023 using its authority from section 47(viiab)(d) of the Income-tax Act, 1961, is introducing further amendments to Notification 16/2020 dated March 5, 2020 namely:-
In the said notification, in the first paragraph, –
(i) after clause (vi), the following clause shall be inserted, namely: –
“(vii) unit of investment trust;
(viii) unit of a scheme;
(ix) unit of a Exchange Traded Fund launched under International Financial Services Centres Authority (Fund Management) Regulations, 2022,”;
(ii) in the Explanation, after clause (c), the following clause shall be inserted, namely: –
“(d) “Investment Trust” shall have the meaning assigned to it in clause (d) of sub-regulation (1) of regulation 83 of the International Financial Services Centres Authority (Fund Management) Regulations, 2022.
(e) “Scheme” shall have the meaning assigned to it in clause (ii) of sub-regulation (1) of regulation 2 of the International Financial Services Centres Authority (Fund Management) Regulations, 2022.”.
This notification shall come into force with effect from the date of its publication in the Official Gazette.
The Notification can be accessed at: https://egazette.gov.in/WriteReadData/2023/248655.pdf