Income Tax Department to share Information with Ministry of Housing and Urban Affairs [Read Notification]

IAaykar Diwas - Income Tax Department - Extension Taxscan

The Central Government today issued a notification empowering the income tax department to share information with the Ministry of Housing and Urban Affairs.

The present notification by the Central Board of Direct Taxes (CBDT) specified that the Joint Secretary (PMAY), Ministry of Housing and Urban Affairs, Government of India, as the designating authority for purposes of section 138(1)(a) of the Income Tax Act.

Section 138 of the Income Tax empowers the tax department to share information with other authorities dealing with laws related to any tax, duty, cess or foreign exchange or to other notified authorities subject to certain conditions.

Recently, the IT department had paved the way for the seamless exchange of information between various government agencies to check illegal wealth by amending the 2003 notification, seeking to remove any ambiguity about sharing of taxpayer information by the tax department with other government agencies.

Accordingly, the CBDT has issued Notification allowing the Income Tax Department to furnish the details of income tax returns and Tax Audit reports with the Ministry of Corporate Affairs among other information as per furnishing bulk information under section 138 of the Income Tax Act, 1961.

Further, a separate notification was also issued to share information with the National Intelligence Grid.

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