The Bombay Stock Exchange (BSE) on March 31, 2026, issued a notification regarding the Master Circular Finance and Accounts March 31, 2026.
The following has been stated: -
•The Central Board of Direct Taxes clarified that GST on services (if shown separately) is excluded from TDS under the Income-tax Act, 1961.
•Existing contracts referring to service tax will be treated as GST on services post 1 July 2017.
•Rules for stock exchanges (now under Income Tax Rules, 2026) mandate SEBI approval, client data recording, audit trails, and monthly reporting.
•Bombay Stock Exchange is recognized, ensuring derivative and commodity trades are not treated as speculative transactions.
•Members must upload TDS certificates on the BEFS portal for refunds, which are processed monthly without physical submission.
[Notification No.: 20260331-6]
