Current Affairs - Miscellaneous - Discussion

Corporate Affairs Ministry and Central Board of Direct Taxes (CBDT) signed a Memorandum of understanding (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 enables 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.