Central Government Notifies India International Exchange (IFSC) Limited Gandhinagar, Gujarat (PAN: AAGCB8819B) as a ‘recognised stock exchange’ - 35/2018 - Income Tax Act, 1961
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Recognised stock exchange status granted subject to SEBI approval and data, audit trail and reporting obligations. Notification under Section 43 and Rule 6DDB designates India International Exchange (IFSC) Limited as a recognised stock exchange for derivatives, conditional on SEBI approval and adherence to SEBI guidelines; mandatory recording and storage of client particulars including UCI and PAN; retention of a complete audit trail of derivative transactions for seven years; prohibition on erasure of registered transactions; modifications only for genuine errors with records maintained; and monthly submission of Form No. 3BB to the Director General of Income-tax within fifteen days of month-end. The notification lasts until SEBI approval is withdrawn or expires, and violations may lead to rescission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recognised stock exchange status granted subject to SEBI approval and data, audit trail and reporting obligations.
Notification under Section 43 and Rule 6DDB designates India International Exchange (IFSC) Limited as a recognised stock exchange for derivatives, conditional on SEBI approval and adherence to SEBI guidelines; mandatory recording and storage of client particulars including UCI and PAN; retention of a complete audit trail of derivative transactions for seven years; prohibition on erasure of registered transactions; modifications only for genuine errors with records maintained; and monthly submission of Form No. 3BB to the Director General of Income-tax within fifteen days of month-end. The notification lasts until SEBI approval is withdrawn or expires, and violations may lead to rescission.
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