CBDT and SEBI signed MoU!
The
MoU will facilitate the
Sharing
of data and information!
A
formal Memorandum of Understanding (MoU) was signed between the Central Board
of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI)
for data exchange between the two organizations. The MoU was signed by Smt Anu
J Singh, Pr DGIT (Systems), CBDT and Smt. Madhabi Puri Buch, Whole Time Member,
SEBI in the presence of senior officers from both the organizations via video
conference.
The
MoU will facilitate the sharing of data and information between SEBI and CBDT
on an automatic and regular basis. In addition to regular exchange of data,
SEBI and 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.
The
MoU comes into force from the date it was signed and is an ongoing initiative
of CBDT and SEBI, who are already collaborating through various existing
mechanisms. 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 SEBI
and CBDT.
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