CBDT and SEBI sign MoU for data exchange in India

The Indian Central Board of Direct Taxes (CBDT) and the Indian Securities and Exchange Board of India (SEBI) signed a memorandum of understanding (MoU) for data exchange between two entities. The MoU aims to support the sharing of data and information between SEBI and CBDT on an automatic and regular basis. Additionally, through this co-operation, SEBI and CBDT will exchange any information available in their respective databases, for the purpose of carrying out their functions under various laws. 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.