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of <h1>New Tax Rules: Stock Exchanges Must Preserve Transactions, Allow Modifications for Errors, and Report Monthly via Form 3BB</h1> The Income-tax (First Amendment) Rules, 2011, effective April 1, 2011, amend the Income-tax Rules, 1962. The amendments to rule 6DDA require stock exchanges to ensure transactions in cash and derivative markets are not erased once registered, and modifications are only allowed for genuine errors. Exchanges must maintain data on modified transactions and submit a monthly statement in Form No. 3BB to the Director General of Income-tax (Intelligence) in New Delhi. Additionally, rule 6DDB is updated to reflect these changes, and Form No. 3BB is introduced for reporting purposes.
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