Govt Exempts ETFs, Investment Trusts From Capital Gain Tax In GIFT City


The government has exempted units of investment trusts and ETFs issued by entities based in GIFT City or traded in exchanges there from capital gains tax.

The Central Board of Direct Taxes (CBDT) has stated that the tax exemption on capital gains will apply to ETFs launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022, as well as investment trusts.

Gujarat International Finance Tec-City (GIFT)-IFSC is being promoted as a tax-neutral enclave for the financial sector.

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