The Central Board of Direct Taxes (CBDT) and Securities and Exchange Board of India (SEBI) signed a Memorandum of Understanding (MOU) for the data exchange between the two organisations via video conference.
Highlights of MoU:
- It facilitates sharing of data and information automatically between the two organisations on a regular basis.
- On request and suo moto basis, both organisations exchange information available in the databases for doing their functions under various laws.
- The MoU comes into force from the date of signing.
- CBDT and SEBI are already collaborating through various existing mechanisms.
- A Data Exchange Steering Group is constituted and will meet periodically to review the status of data exchange and improve effectiveness of the data sharing mechanism.
Mou Signed By:
Smt. Anu J. Singh, Pr. Directorate General of Income Tax (DGIT) (Systems), CBDT and Smt. Madhabi Puri Buch, Whole time member, SEBI in the presence of senior officers from both organizations via video conference.
The MoU marks a new era of cooperation and synergy between SEBI and CBDT.
About Securities and Exchange Board of India:
Chairman: Shri Ajay Tyagi
About Central Board of Direct Taxes:
Headquarters: New Delhi
Chairperson: Pramod Chandra Mody