The Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) has signed an agreement for data exchange. The agreement will facilitate the sharing of information and data between the two organisations on an automatic and regular basis. For regular exchange of data, the two organizations 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.
For this initiative, a Data Exchange Steering Group has also been constituted, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data-sharing mechanism.
Important takeaways for all competitive exams:
- Chairperson of CBDT: Pramod Chandra Mody.
- Headquarters of CBDT: New Delhi.
- Chairman of Securities and Exchange Board of India: Ajay Tyagi; Headquarter: Mumbai.
- Chairman of National Highways Authority of India: Sukhbir Singh Sandhu.