New Delhi: The Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) on Wednesday signed a Memorandum of Understanding (MoU) for data exchange between the two organisations. Also Read - Want to Link Aadhaar Card With PAN? Here’s How to do it From Your Phone | Details Here
The MoU was signed by Anu J. Singh, Pr. DGIT (Systems), CBDT and Madhabi Puri Buch, Whole Time Member, SEBI in the presence of senior officers from both the organisations through video conference, said a statement by the Ministry of Finance. Also Read - CBDT Says It Issued Tax Refunds of Rs 95853 Crore Since April
“The MoU will facilitate the sharing of data and information between the SEBI and the CBDT on an automatic and regular basis. In addition to regular exchange of data, the SEBI and the CBDT will also exchange with each other, on request and suo moto basis, any information available in their respective databases, for the purpose of carrying out their functions under various laws,” it said. Also Read - Govt Allows Operation of Electricity Futures in India
A Data Exchange Steering Group has also been constituted for the initiative, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data sharing mechanism.
“The MoU marks the beginning of a new era of cooperation and synergy between the SEBI and the CBDT,” the statement added.