The Securities and Exchange Board of India (“SEBI”) and the Central Board of Direct Taxes (“CBDT”) have signed a memorandum of understanding to facilitate the sharing of data and information between CBDT and SEBI on an automatic and regular basis (“MOU”). The MOU will ensure that both CBDT and SEBI have seamless linkage for data exchange. Additionally, CBDT and SEBI will also exchange with each other, on request and on a suo motu basis, any information available in their respective databases, for the purpose of carrying out scrutiny, inspection, investigation and prosecution. The MOU came into force from July 8, 2020.
Read SEBI Press Release here.
This update has been contributed by Adity Chaudhury (Partner) and Deeya Ray (Associate).
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