Form No 1 (Form No 3BB)

Purpose

This form is a monthly Statement to be furnished by a stock exchange in respect of transactions in which client codes have been modified after registering in the system. This form is filed under Rule 4 of Income-tax Rules, 2026(Rule 6DDA of Income-tax Rules, 1962).

Who Should File?

All stock exchanges are supposed to file this form for the purposes of Section 66(33) of Income-tax Act, 2025 in respect of cash and derivative market transactions.

Filing Method

The form must be filed online on the official income tax e-filing portal.

Frequency of the form

This form is to be filed monthly.

Brief Note on broad or qualitative changes proposed

The format of the form has been designed in smart form format as far as the details of the stock exchanges are concerned. (The basic details regarding Name, PAN and Address etc.). The details related to Form 3BC (viz. commodity derivative name has been added along with scrip name in the Scrip Name column of Derivative Market Table. This has been done in view of the entities which were earlier filing Form 3BC are now supposed to file Form 3BB

Form 3BC has been rendered redundant in view of abolition of Forward Market Commission (in 2015). Accordingly, the entities which were earlier covered under the provisions of Rule 6DDC of Income-tax Rules, 1962 are covered under Rule 6DDA itself and are already filing Form 3BC which is apparent from the data of Form filing details.

No other changes have been proposed in the fields being captured in the tables under “Cash Market” and “Derivative Market”.

Client code modification reporting requires monthly online filing by stock exchanges for cash and derivative transactions. A monthly statement is required from stock exchanges reporting modified client code transactions in cash and derivative market transactions. The form must be filed online by all stock exchanges through the income tax e-filing portal, and its smart-form format captures basic exchange details. The format also incorporates commodity derivative details previously associated with Form 3BC, which has been rendered redundant, while no other changes are made to the Cash Market and Derivative Market tables.