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The Central Government notifies NSE IFSC Limited, Gandhinagar, Gujarat as a recognised stock exchange for Section 43 of the Income-tax Act, 1961. The recognition takes effect from the date of publication in the Official Gazette. The stock exchange must hold approval from the Securities and Exchange Board of India for derivative trading. The stock exchange records client particulars, maintains a seven-year audit trail, and prevents the erasure of derivative transactions. The stock exchange submits a monthly statement in Form No. 3BB for modified transactions to the Director General of Income-tax. The notification remains in force until the approval of the Securities and Exchange Board of India is withdrawn or expires.
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[TO BE PUBLISHED IN THE GAZETIE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)l Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes NOTIFICATION New Delhi, the st f July, 2018
In exercise of the powers conferred under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of Rule 6DDB of the Income-tax Rules, 1962, the Central Government hereby notifies NSE IFSC limited, Gandhinagar, Gujarat (PAN: AAFCN4161P) as a 'recognised stock exchange' for the purpose of said clause with effect from the date of publication of this notification in the Official Gazette, subject to fulfilment of following conditions in respect of trading in derivatives, namely:
(~ Under Secretary (ITA-II), CBDT. Notification No.,3( /2018 (F. No. 225/112/2018-ITA-II)
To The Manager, Government of India Press, Mayapuri, New Delhi
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