SECTION 43(5), CLAUSE (iii)
OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 -
SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - NOTIFIED
RECOGNIZED STOCK EXCHANGE
NOTIFICATION NO. 90/2013 [F.NO. 142/31/2013-TPL(PT.-II)], DATED 27-11-2013
In
exercise of the powers conferred by clause (iii) of the Explanation 2
of clause (e) of the proviso to clause (5) of section 43 of the
Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of rule 6DDD of
the
Income-tax Rules, 1962, the Central Government hereby notifies the
National Commodity and Derivatives Exchange Limited, Mumbai as a
recognised association for the purposes of clause (e) of the proviso to
clause (5) of the said section, with effect from the date of publication
of this notification in the Official Gazette.2. The Central Government may withdraw the recognition of National Commodity and Derivatives Exchange Limited, Mumbai if any of the conditions specified in rule 6DDC of the Income -tax Rules, 1962, is violated.
3.
This notification shall remain in force until the approval granted by
the Forward Markets Commission is withdrawn or expires, or the
notification is rescinded by the Central Government under sub-rule (5)
of rule 6DDD of the Income-tax Rules, 1962.
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