Case law › Notifications › 2019 › Notification No. 8/2019 [F.No. 225/344/2018-ITA-II] / SO 772(E)

Notification 31 January 2019

Notification No. 8/2019 [F.No. 225/344/2018-ITA-II] / SO 772(E)

Ministry of Finance

What this is

Notification No. 8/2019 [F.No. 225/344/2018-ITA-II] / SO 772(E) was published on 31 January 2019. Its subject is Ministry of Finance.

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.43	s.2, s.39, s.41, s.66

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 31st January, 2019
S.O. 772(E).— In exercise of the powers conferred by clause (iii) in the Explanation of clause (e) of the proviso to sub-section (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 M/s. BSE Limited, Mumbai (PAN: AACCB6672L) as a 'recognised association' for the purpose of said clause with effect from 01.10.2018 (the date of commencement of trading in commodity derivative segment) subject to fulfilment of following conditions in respect of trading in derivatives, namely;
(i) The Exchange shall have the approval of the Forward Markets Commission established under the Forward Contracts (Regulation) Act, 1952 (74 of 1952) [merged with Securities and Exchange Board of India vide Gazette Notification No. S.O. 2630(E) dated 24.09.2015] in respect of trading in derivatives and shall function in accordance with the guidelines or conditions laid down by it; or
(ii) it shall ensure that the particulars of the client (including unique client identity number and PAN) are duly recorded and stored in its databases; or
(iii) it shall maintain a complete audit trail of all transactions (in respect of derivative market) for a period of seven years on its system; or
(iv) it shall ensure that transactions (in respect of derivative market) once registered in the system are not erased;
(v) it shall ensure that the transactions (in respect of derivative market) once registered in the system are modified only in cases of genuine error and maintain data regarding all transactions (in respect of derivative market) registered in the system which have been modified and submit a monthly statement in Form No. 3BC to the Director General of Income-tax (Intelligence and Criminal Investigation), New Delhi within fifteen days from the last day of each month to which such statement relates.
2. This notification shall remain in force until the approval granted by the Securities and Exchange Board of India is withdrawn or expires; or this notification is rescinded by the Central Government as provided in sub-rule (5) of rule 6DDD of the Income Tax Rules,1962, whichever is earlier.
[Notification No. 8/2019/F. No. 225/344/2018-ITA-II]
RAJARAJESWARI R., Under Secy. (ITA-II), CBDT.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

What it names

Forms it names. Form No. 3BC

Rules it names. Rule 6DDD of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Circular No. 13/2021 — Circular No. 13 of 2021 30 June 2021
Circular No. 17/2020 — Guidelines under section 194 o 4 and section 206C 1 i of the income tax act 1961 29 September 2020
Notification No. 17/2020 [F.No.173/10/2014-ITA-I] / SO 1057(E) — Ministry of Finance 13 March 2020
Notification No. Notification No. 76/2018 [F. No. 225/261/2018 ITA-II] — [To BE Published in the Gazette of INDIA, Extraordinary, Part II, section 3, Sub-section (ii)] 31 October 2018
Notification No. 35/2018 [F.No. 225/111/2018-1TA-II] — Government of India 31 July 2018
Notification No.36/2018 [F.No.225/112/2018-ITA-II] — [To BE Published in the Gazetie of INDIA, Extraordinary, Part II, section 3, Sub-section (Ii)l 31 July 2018

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.