Notification No. 100/2019 Central Board of Direct Taxes
December, 02nd 2019
[TO BE PUBLISHED Il" THE GAZETTE OF INDIA. EXTRAORDI"-RY. PART II. SECT/O" 3. SCB-
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
'e" Delhi, the ~ of November, 2019
In exercise of the powers conferred by clause (iii) in the Explanation ofelause (e) orthe pro, iso to sub-
section (5) of Section 43 orthe Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of Rule 6DDD of the
Income-tax Rules. 1962, the Central Govemment hereby notifies MIs National Stock Exchange of India
Limited, Mumbai (pAN: AAACN1797L) as a 'recognised association' for the purpose of said clause with
effect from the date of,publication of this notification in the official gazette subject to fulfilment of follo",ing
conditions in respect of trading in derivatives, namely;
(i) The Exchange shall have the approval of the Forward Markets Commission established under
the Forward Contracts (Regulation) Act, 1952 (74 of 1952) (merged with Securities and Exchange
Board of India vide Gazette Notification No.S.O.2630(E) dated 24.09.2015) in respect of trading in
derivatives and shall function in accordance with the guidelines or conditions laid down by it;
(ii) It shall ensure that the particulars of the client (including unique client identi!) number and
PAN) are duly recorded and stored in its databases:
(iii) It shall maintalO a complete audit trail of all transactions (in respect of derivative market) for a
period of seven years on its system:
(iv) It shall ensure that transactions (in respect of derivative market) once registered in the system
are not erased;
(v) It shall ensure that the transactions (in respect of derivative market) once registered in the system
are modified only in cases of genuine error and maintain data regarding all transactions (in respect of
derivative market) registered in the system which have been modified and submit a monthly statement
in Form No. 3BC to the Director General of Income-tax (Intelligence and Criminal Investigation).
New Delhi within fifteen days from the last day of each month to which such statement relates.
2. This notification shall remain in force until the approval granted by the Securities and Exchange Board
of India is withdrawn or expires: or this notification is rescinded by the Central Government as provided in sub-
rule(5) of rule 6DDD of the Income Tax Rules. 1962, whichever is earlier.
Under Secretary to the Government of India
Notification No. /DO /2019
(F. No. 225/ 25212019-ITA-D)
Govemment of India Press.
Mayapuri, New Delhi
Copy fONarded to: -
I. PPS to FM. Dir(FMO). OSD to I.loS(R)!PPS to RSPPS to Chairman. CBDT and all :-"Iembers. CBDT.
2. The applicant, Mi s National Stock Exchange of India Limited. Mumbai.
~ Securities and Exchange Board of Indill-Mumbai
4. DGIT(I&CI).New Delhi
5. All Pr. CCslT/DGslT for kind information.
6. ITCe, eBDT (4 copies)
7. 0 /0 Pr. DGIT (Systems), New Delhi, for placing on the website: incometaxindia.gov.in.
8. Guard File.
Under Secretary to the