CBDT inserts Director General of CCI under Section 138 of Income Tax Act, 1961

Aug 07, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on July 30, 2020 has issued a notification specifying that the Director General or Secretary of Competition Commission of India shall come under the Income Tax Authorities by amending Notification No. S.O. No. 731 (E) dated July 28, 2000 which specifies the terms and conditions for the disclosure of information to any officer, authority or body in regards with imposition of any tax, cess or duty under Section 138 of the Income-Tax Act, 1961.

It is further clarified that the Authority shall furnish the relevant information necessary and abiding the laws to perform the functions under the laws. Authorities should convey that the information being furnished is extremely confidential and should not be misused.

[Notification No. 57/2020]

 


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