Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction.
Schedule VII of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, inter alia, states that:
To regulate transactions between clients and brokers, SEBI, vide circulars dated August 27, 2003 and July 12, 2018, has, inter alia, mandated that:
Further, SEBI, vide circular dated June 6, 2018, SEBI, has, inter alia:
“officially valid document” (OVD) shall be submitted. However, for securities market, in terms of SEBI circular dated April 27, 2007, the requirement of PAN would continue to be mandatory for completing the KYC process.
Moreover, SEBI registered intermediaries are required to follow stringent KYC norms on an ongoing basis and are also required to file Suspicious Transaction Reports (STRs) to the Financial Intelligence Unit (FIU) in case of suspicious activities of their clients.
The annual turnover for cash market for BSE & NSE and market capitalization for BSE for the last 3 F.Y.s is given below:
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(Figures in Rs. Crore) |
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Total |
Total Turnover |
Total Turnover |
Total Market Cap |
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Year |
Turnover |
(as on 31st March of the F.Y.) |
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(NSE) |
(BSE+NSE) |
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(BSE) |
(BSE) |
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FY 2015-16 |
7,40,089 |
42,36,983 |
49,77,072 |
94,75,328 |
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FY 2016-17 |
9,98,261 |
50,55,913 |
60,54,174 |
1,21,54,525 |
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FY 2017-18 |
10,82,968 |
72,34,826 |
83,17,794 |
1,42,24,996 |
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Appropriate action against evasion of taxes/black money, including against cases involving black money investments, is an on-going process. Such action under direct tax laws includes searches, surveys, enquiries, assessment of income, levy of taxes, penalties, etc. and filing of prosecution complaints in criminal courts, wherever applicable. The Income-tax Department does not maintain sector-wise details of the searches conducted.
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a Written reply to a question in Lok Sabha today.
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DSM/KA