MANU/CBDT/0008/2022

Ministry : Ministry of Finance

Department/Board : CBDT

Notification No. : 09/2022

Date of Notification : 18.01.2022

Date of Publication : 18.01.2022

Notification/ Circulars Referred : Notification number S.O. 1059(E), dated the 28th September, 2004 MANU/CBDT/0241/2004

G.S.R.25(E).--In exercise of the powers conferred section 114 of the Finance (No. 2) Act, 2004, (23 of 2004), the Central Government hereby makes the following rules to amend the Securities Transaction Tax Rules, 2004, namely:-

1. Short title and commencement.--

(1) These rules may be called the Securities Transaction Tax (1st Amendment), Rules, 2022.

(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Securities Transaction Tax Rules, 2004 (hereinafter referred to as the principal rules), after rule 5, the following rule shall be inserted, namely:-

"5A. Person responsible for collection and payment of securities transaction tax in case of Insurance Company.-

In the case of an insurance company, the person responsible for collection and payment of securities transaction tax in accordance with sub-sections (2), (3) and (4) of section 100 of the Act, shall be the managing director or a whole-time director, as defined in clauses (54) and (94) of section 2 of the Companies Act, 2013 (18 of 2013), duly authorised by the Board of Directors of such company in this behalf.".

3. In the principal rules, for rule 6, the following rule shall be substituted, namely: -