CBDT notified Powergrid Infrastructure Investment Trust as prescribed mode of investment under IT Act:

CBDT notified Powergrid Infrastructure Investment Trust as prescribed mode of investment under IT Act The Central Board of Direct Taxes (CBDT) has notified the Powergrid Infrastructure Investment Trust as the prescribed mode of investment under section 11(5) of the Income Tax Act, 1961 via issuing Notification. In exercise of the powers conferred by clause (xii) of sub-section (5) of section 11 read with section 295 of the Income Tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby amended the following Income Tax Rules, 1962. These rules may be called the Income Tax Amendment (Twenty-Eighth Amendment) Rules, 2023. They shall come into force on the date of their publication in the Official Gazette. In the Income Tax Rules, 1962, in rule 17C, after clause (ix), the following clause shall be inserted, namely:-

“(x) investment by way of acquiring units of POWERGRID Infrastructure Investment Trust.”.

For Official Notification Download PDF Given Below: