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  • Sep 14, 2023
  • Tax waiver for ETF capital gains on GIFT exchange

    To further the objective of making the GIFT International Financial Services Centre (IFSC) in Gujarat a hub for financial services in the world, the Centre has exempted tax on capital gains arising from the transfer of units of investment trusts and exchange-traded funds (ETFs) on exchanges in the IFSC.

    The Central Board of Direct Taxes (CBDT) notified the exemption under the International Financial Services Centres Authority (Fund Management) Regulations, 2022.