CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Central Board of Direct Taxes signed a MOU with which organisation for the data exchange between the two organisations?

A	NASSCOM
B	PFRDA
C	IRDAI
D	SEBI

Explanation:

Detailed explanation-1: -A formal Memorandum of Understanding (MOU) was signed today between the Ministry of Corporate Affairs (MCA) and Central Board of Indirect Taxes and Customs (CBIC), Ministry Of Finance for data exchange between the two organizations.

Detailed explanation-2: -CBIC is a statutory body established under the Central Boards of Revenue Act, 1963. CBIC was formed in 1964 when the Central Board of Revenue was split into the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs, which was renamed the Central Board of Indirect Taxes and Customs in 2018.

Detailed explanation-3: -“Central Board of Excise and Customs (CBEC) is a part of the Department of Revenue under the Ministry of Finance, Government of India.

Detailed explanation-4: -The Central Board of Excise and Customs (CBEC) has a rich repository of taxpayer data pertaining to Customs, Central Excise and Service Tax.

Detailed explanation-5: -1. Shri Vivek Johri is Chairman, Central Board of Indirect Taxes & Customs and Special Secretary to the Government of India.

There is 1 question to complete.