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of <h1>Amendment to Securities Transaction Tax Rules: Insurance Directors Now Responsible for Tax Collection and Payment.</h1> The Securities Transaction Tax (1st Amendment), Rules, 2022, amends the Securities Transaction Tax Rules, 2004. It designates the managing director or a whole-time director of an insurance company, authorized by the Board, as responsible for collecting and paying securities transaction tax. The amendment specifies that tax payments should be made to the Central Government via authorized banks. It introduces Form No. 2A for insurance companies to report taxable securities transactions electronically. The amendment also outlines procedures for secure data transmission and mandates that returns be furnished by authorized directors.
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