« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Coimbatore motor parts dealers seek VAT reduction... EU plans tax law changes to hone competitive edge... » Investments by regional SEs in arm tax-exempt September, 20th 2006 The threat of tax-exempt status of regional stock exchanges being taken away has receded. The income-tax department has now said that equity share investments of such exchanges in a subsidiary promoted by them was not violative of the investment modes prescribed in the income-tax law for continuing as a registered tax-exempt institution. Tax-exempt status A number of RSEs have tax-exempt status in view of their registration with the tax department as an approved institution under certain provision of the income-tax law. But the tax-exempt status was under threat in view of the tax provisions hitherto not recognising the equity share investments made by the RSE in a subsidiary. As part of the revival of regional stock exchanges (RSEs), the Securities and Exchange Board of India (SEBI) had in 1999 allowed stock exchanges in the country to promote subsidiaries so as to acquire membership rights of larger stock exchanges such as the National Stock Exchange (NSE) or Stock Exchange, Mumbai. Although RSEs conformed to the SEBI guidelines and made share investments in subsidiaries set up by them since 1999, the Income-Tax provisions (Section 11(5) read with rule 17C), as they stood, did not permit such investments. As the RSEs had complied with the SEBI guidelines, the Central Board of Direct Taxes (CBDT) has now brought about "convergence" between the SEBI guidelines and the income-tax rules from the period commencing from November 26, 1999. The CBDT has amended the income-tax rules, on a retrospective basis to specify that share investments made by the RSEs in a subsidiary promoted by them would qualify as an eligible investment for such exchanges to retain their tax-exempt status. There are more than 20 regional stock exchanges in the country.