Gains from transfer of units of investment trusts and IFSCA traded funds exempted from income tax

The Central Board of Direct Taxes vide notification dated 12 September, 2023 has provided that any profits or gains arising from the transfer of following capital assets effected in the previous year is not be chargeable to income-tax under the head “Capital gains”:

1. Unit of investment trust;
2. Unit of a scheme;
3. Unit of a Exchange Traded Fund launched under International Financial Services Centres Authority (Fund Management) Regulations, 2022.