Corporate Affairs Ministry and Central Board of Direct Taxes (CBDT) has signed an MoU for automatic and regular exchange of information to curb the menace of shell companies, money laundering and black money in the country.
The MoU will enable sharing of specific information such as PAN number data in respect of corporates, Income Tax returns of corporates, financial statements filed with the Registrar by corporates, audit reports, and statements of financial transactions received from banks relating to corporates.
Important Takeaways from Above News-
- Sushil Chandra is the Chairman of CBDT.
- Arun Jaitley is the present Minister of Corporate Affairs.
Source- AIR World Service