Income Tax Act, 2025
Section 9: Ins. by Act 22 of 2007, s. 6 (w.e.f. 12008).
9. Ins. by Act 22 of 2007, s. 6 (w.e.f. 12008).
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Explanation.—For the purposes of this clause, “commodity exchange” shall mean a “registered
association” as defined in clause (jj) of section 2 of the Forward Contracts (Regulation)
Act, 1952 (74 of 1952);]
1[(23ED) any income, by way of contributions received from a depository, of such Investor
Protection Fund set up in accordance with the regulations by a depository as the Central Government
may, by notification in the Official Gazette, specify in this behalf:
Provided that where any amount standing to the credit of the Fund and not charged to income-tax
during any previous year is shared, either wholly or in part with a depository, the whole of the amount
so shared shall be deemed to be the income of the previous year in which such amount is so shared
and shall, accordingly, be chargeable to income-tax.
Explanation.—For the purposes of this clause,—
(i) “depository” shall have the same meaning as assigned to it in clause (e) of sub-section (1)
of section 2 of the Depositories Act, 1996 (22 of 1996);
(ii) “regulations” means the regulations made under the Securities and Exchange Board of
India Act, 1992 (15 of 1992) and the Depositories Act, 1996 (22 of 1996);]
2[(23EE) any specified income of such Core Settlement Guarantee Fund, set up by a recognised
clearing corporation in accordance with the regulations, as the Central Government may, by
notification in the Official Gazette, specify in this behalf:
Provided that where any amount standing to the credit of the Fund and not charged to income-tax
during any previous year is shared, either wholly or in part with the specified person, the whole of the
amount so shared shall be deemed to be the income of the previous year in which such amount is so
shared and shall, accordingly, be chargeable to income-tax.
Explanation.—For the purposes of this clause,—
(i) “recognised clearing corporation” shall have the same meaning as assigned to it in
clause (o) of sub-regulation (1) of regulation 2 of the Securities Contracts (Regulation) (Stock
Exchanges and Clearing Corporations) Regulations, 2012 made under the Securities and
Exchange Board of India Act, 1992 (15 of 1992) and the Securities Contracts (Regulation)
Act, 1956 (42 of 1956);
(ii) “regulations” means the Securities Contracts (Regulation) (Stock Exchanges and Clearing
Corporations) Regulations, 2012 made under the Securities and Exchange Board of India
Act, 1992 (15 of 1992) and the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(iii) “specified income” shall mean,—
(a) the income by way of contribution received from specified persons;
(b) the income by way of penalties imposed by the recognised clearing corporation and
credited to the Core Settlement Guarantee Fund; or
(c) the income from investment made by the Fund;
(iv) “specified person” shall mean,—
(a) any recognised clearing corporation which establishes and maintains the Core
Settlement Guarantee Fund;
(b) any recognised stock exchange, being a shareholder in such recognised clearing
corporation, or a contributor to the Core Settlement Guarantee Fund; and
of section 2 of the Forward Contracts
Act, 1952 (74 of 1952);]
1[
any income, by way of contributions received from a depository, of such Investor
Protection Fund set up in accordance with the regulations by a depository as the Central Government
may, by notification in the Official Gazette, specify in this behalf:
Provided that where any amount standing to the credit of the Fund and not charged to income-tax
during any previous year is shared, either wholly or in part with a depository, the whole of the amount
so shared shall be deemed to be the income of the previous year in which such amount is so shared
and shall, accordingly, be chargeable to income-tax.
Explanation.—For the purposes of this clause,—
“depository” shall have the same meaning as assigned to it in clause
of sub-section
of section 2 of the Depositories Act, 1996 (22 of 1996);
“regulations” means the regulations made under the Securities and Exchange Board of
India Act, 1992 (15 of 1992) and the Depositories Act, 1996 (22 of 1996);]
2[
any specified income of such Core Settlement Guarantee Fund, set up by a recognised
clearing corporation in accordance with the regulations, as the Central Government may, by
notification in the Official Gazette, specify in this behalf:
Provided that where any amount standing to the credit of the Fund and not charged to income-tax
during any previous year is shared, either wholly or in part with the specified person, the whole of the
amount so shared shall be deemed to be the income of the previous year in which such amount is so
shared and shall, accordingly, be chargeable to income-tax.
Explanation.—For the purposes of this clause,—
“recognised clearing corporation” shall have the same meaning as assigned to it in
clause
of sub-regulation
of regulation 2 of the Securities Contracts
(Stock
Exchanges and Clearing Corporations) Regulations, 2012 made under the Securities and
Exchange Board of India Act, 1992 (15 of 1992) and the Securities Contracts
Act, 1956 (42 of 1956);
“regulations” means the Securities Contracts
(Stock Exchanges and Clearing
Corporations) Regulations, 2012 made under the Securities and Exchange Board of India
Act, 1992 (15 of 1992) and the Securities Contracts
Act, 1956 (42 of 1956);
“specified income” shall mean,—
the income by way of contribution received from specified persons;
the income by way of penalties imposed by the recognised clearing corporation and
credited to the Core Settlement Guarantee Fund; or
the income from investment made by the Fund;
“specified person” shall mean,—
any recognised clearing corporation which establishes and maintains the Core
Settlement Guarantee Fund;
any recognised stock exchange, being a shareholder in such recognised clearing
corporation, or a contributor to the Core Settlement Guarantee Fund; and