Rule 7 - Return of taxable securities transactions - Securities Transaction Tax Rules, 2004

Return of taxable securities transactions. 7. (1) The return of taxable securities transactions required to be furnished under sub-section (1) of section 101 of the Act shall,- (a) in the case of a recognised stock exchange, be in Form No. 1 and be verified in the manner indicated therein; (b) in the case of a Mutual Fund, be in Form No. 2 and be verified in the manner indicated therein. 1 [ (c) in the case of an insurance company, be in Form No. 2A and be verified in the manner indicated therein. ] 2 [ (2) The return in Form No. 1, Form No. 2 and Form No. 2A referred to in sub-rule (1) shall be furnished electronically either under digital signature or electronic verification code. Explanation. -For the purposes of this sub-rule electronic verification code means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). (2A) The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the returns in Form No. 1, Form No. 2 and Form No. 2A. ] (3) In the case of a Mutual Fund, the return referred to in sub-rule (1) shall be furnished by the trustee of the Fund, or such other person managing the affairs of the Mutual Fund as may be duly authorised by the trustee in this behalf. 3 [ (3A) In case of an insurance company, the return referred to in sub-rule (1) shall be furnished by 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. ] (4) The return of taxable securities transaction entered into during a financial year shall be furnished on or before the 30th June immediately following that financial year. ****************** NOTES:- 1. Inserted vide Notification No. 9/2022 Dated 18-01-2022 2. Substituted vide Notification No. 9/2022 Dated 18-01-2022 before it was read as (2) The particulars required to be furnished in the schedules to Form No. 1 and Form No. 2 referred to in sub-rule (1) shall be furnished on a computer media, in accordance with the following,- (a) the computer media conforms to the following specifica tions :- (i) CD ROM of 650 MB capacity or higher capacity; or (ii) 4mm 2GB/ 4GB (90M/120M) DAT Cartridge, or (iii) Digital Video Disc; (b) if the data relating to the schedules is copied using data compression or backup software utility, the corresponding software utility or procedure for its decompression or restora tion shall also be furnished; (c) the return shall be accompanied by a certificate re garding clean and virus free data. 3. Inserted vide Notification No. 9/2022 Dated 18-01-2022