Notification under section 47 of Income tax Act 1961
Notification under section 47 of Income tax Act 1961
S.O. 3981(E).—In exercise of the powers conferred by sub-clause (d) of clause (viiab) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), number 16/2020, dated the 5th March, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, sub-section (ii), vide number S.O. 986(E), dated 5th March, 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.
Note : The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), vide number S.O. 986(E) dated 5th March, 2020, and subsequently amended by Notification No. 89 of 2022 was published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), vide number S.O. 3652(E) dated 03rd August, 2022.
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