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News INCOME TAX

  • Sep 20, 2019
  • Share secret info about overseas black money with ED, CBI only after permission: CBDT to I-T dept

    Information obtained by the income tax department on overseas black money probes through foreign tax treaties is "confidential" and can only be shared with other agencies after getting consent from the corresponding country, the CBDT has said in a latest directive. It has also asked the taxman to guard against unauthorised disclosure of such information as it is a "serious matter". The Central Board of Direct Taxes (CBDT), that frames policy for the I-T department, issued a directive on Wednesday stressing on the confidentiality clause that has to be maintained vis-a-vis information obtained from foreign jurisdictions as part of various tax treaties between India and other nations.