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<h1>Income Tax Authorities to Aid SEBI in Curbing Speculation and Fraud in Securities Market u/s 138(1)(a)(ii.</h1> The circular instructs income tax authorities to assist the Securities and Exchange Board of India (SEBI) in regulating the securities market and protecting investor interests. SEBI's responsibilities include regulating stock exchanges and preventing fraudulent practices. The government aims for stock prices, particularly the Bombay Stock Exchange Sensitive Index, to reflect genuine market fundamentals rather than excessive speculation. Income tax authorities are directed to report any unusual broker transactions discovered during investigations to SEBI, facilitating its regulatory role. SEBI has been notified under section 138(1)(a)(ii) of the Income Tax Act, 1961, to receive such information.