RULE 5 INCOME-TAX RULES 2026
RULE 5 INCOME-TAX RULES 2026
Procedure for notification of a recognised stock exchange for the purposes of section 2(92).
5. (1) An application for notification of a stock exchange as a recognised stock exchange for the purposes of section 2(92) may be made to the Member (Income Tax), Central Board of Direct Taxes, New Delhi.
(2) The application referred to in sub-rule (1) shall be accompanied with the following documents:—
| (a) | approval granted by the Securities and Exchange Board of India for trading in derivatives; | |
| (b) | up-to-date rules, bye-laws and trading regulations of the stock exchange; | |
| (c) | confirmation regarding fulfilling the conditions referred to in clauses (b) to (f) of rule 4; and | |
| (d) | such other information as the stock exchange may like to place before the Central Government. |
(3) The Central Government may call for such other information from the applicant as it deems necessary for taking a decision on the application.
(4) The Central Government, after examining the information furnished by the stock exchange under sub-rule (2) or sub-rule (3), shall notify the stock exchange as a recognised stock exchange for the purposes of section 2(92) or issue an order rejecting the application before the expiry of six months from the end of the month in which the application is received.
(5) The notification referred to in sub-rule (4) shall be effective until the approval granted by the Securities and Exchange Board of India is withdrawn or expires, or the said notification is rescinded by the Central Government.
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RULE 5 INCOME-TAX RULES 2026
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