Income-tax Rules, 2026 | Rule 4 of 333

Rule 4 - Conditions for notification of a recognised stock exchange

Local extract available Legacy mapping: Not recorded

4Rule number

1633Local text characters

1Linked Forms

Previous Rule · Rules index · Next Rule

Source and status control

Primary authority: Notification No. 22/2026 / G.S.R. 198(E)

Local legal-text status: LOCAL_EXTRACT_EXTERNAL_OFFICIAL_SOURCE_CONTROLS

Currentness control: Base Rules effective 1 April 2026. Check later amendments, corrigenda and portal implementation before action.

Local statutory extract - official source controls

Rule text held in the production corpus

4. Conditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange under section 2(92).– For the purposes of section 2(92), a stock exchange shall fulfil the following conditions in respect of trading in derivatives:- (a) the stock exchange shall have the approval of the Securities and Exchange Board of India established under the Securities and Exchange Board of India Act, 1992 (15 of 1992) in respect of trading in derivatives and shall function in accordance with the guidelines or conditions laid down in this behalf by the Securities and Exchange Board of India; (b) the stock exchange shall ensure that the particulars of the client (including unique client identity number and Permanent Account Number) are duly recorded and stored in its databases; (c) the stock exchange shall maintain a complete audit trail of all transactions (in respect of cash and derivative market) for a period of seven tax years on its system; (d) the stock exchange shall ensure that transactions (in respect of cash and derivative market) once registered in the system are not erased; (e) the stock exchange shall ensure that the transactions (in respect of cash and derivative market) once registered in the system, are modified only in cases of genuine error; and (f) the stock exchange shall maintain data regarding all transactions (in respect of cash and derivative market) registered in the system which have been modified and submit a monthly statement in Form No. 1 to the Director General of Income-tax (Systems), within fifteen days from the last day of each month to which such statement relates.

Local extract SHA-256: 34b22d5cb0c2282a0e8e4166545fbf52990c9c793991c6c22a025102868feb78. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

Rule map

Related sections

2(92)

Related Forms

Form 1

Finin2min implementation framework

Trigger and scope

Determine whether the facts fall within the Rule heading and linked section. Verify commencement and the tax year involved.

Evidence and control

Preserve the return, statement, report, certificate, computation, source records and acknowledgement relevant to this Rule.

Consequence

Non-compliance may affect computation, exemption, deduction, procedural validity, reporting, recovery, appeal or penalty depending on the governing section.

Transaction application

Identify the actor, event date, governing tax year or reporting period, authority, document version and every cumulative condition. Record why each limb is satisfied, disputed or not applicable.

Authority, consent and execution

Confirm legal capacity, authorised signatory, digital-signature requirements, professional certification and portal credentials before filing or relying on the document.

Evidence and retention checklist

Retain source data, approvals, computations, correspondence, filing acknowledgement, payment record, amended filing history and the version of the governing instrument used.

Limitation, forum and remedies

Do not assume a general limitation period. Check the specific Act, Rule, notification, portal window, condonation power, appeal route and judicial treatment applicable to the event date.

Cross-law overlays

Check the Income-tax Act, 2025, transition rules, relevant Schedule, tax treaty, Companies Act, GST, FEMA and accounting treatment where the transaction crosses regimes.

Finin2min Q&A

Is this page the notified Rule?

It contains a local statutory extract, but the linked official source and later amendments control.

What should be verified immediately before use?

Effective date, amendment history, forms or utilities, filing channel, authentication method, due date, fees, transition from the 1962 Rules and any judicial interpretation.