SEBI signs MOU with CBDT

The Securities and Exchange Board of India (‘SEBI”) today signed a Memorandum of Understanding (MoU’) with the Central Board of Direct Taxes (‘CBDT’) for exchange of data and information between the two organizations.

The said MoU comes into effect immediately from today.

The MoU specifically provides that exchange of information will not only be done on request basis but also on suo moto basis any information available in their respective databases, for the purpose of carrying out scrutiny, inspection, investigation and prosecution.

A Data steering group has also been constituted for the initiative, which will meet periodically for review purpose and to further improve effectiveness of data sharing mechanism.


The MoU will facilitate exchange of information seamlessly between both the regulators in much more systematic and regular basis. 

An assessee will now have to be careful and accurate in information they provide in their filings. Selective disclosure of information or submitting different sets of information with different regulator will now have repurcussions.

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