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April 2011

Changes in conditions to be fulfilled by a recognised Stock Exchange — Incometax (First Amendment) Rules, 2011 dated 4-3-2011.

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
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The CBDT has amended Rule 6DDA wherein the recognised Stock Exchange shall ensure that the transactions entered in respect of cash and derivative markets once registered cannot be erased. Further, in case there are genuine errors and such transactions are modified, a monthly report needs to be filed with the Tax Department within 15 days from the end of each month in prescribed Form 3BB.

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