The Central Government specified income-tax authority for furnishing information respecting assessees to Securities and Exchange Board of India ('SEBI') - Income Tax - F. No. 225/297/2019/ITA.II

F. No. 225/297/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 10 th February,2020 Order In exercise of powers conferred under section 138(1)(a) of Income tax Act, 1961 ( Act ), the Central Board of Direct taxes ( CBDT ) hereby directs that Principal Director General of Income-tax (Systems), New Delhi shall be the specified income-tax authority for furnishing information respecting assessees to Securities and Exchange Board of India( SEBI ) as notified by the Central Government vide Notification No. 9206 dated 10.02.1993 under sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Act. 2. The data/information to be furnished by the specified income-tax authority shall be: (a) Request based exchange of data, wherein, information such as (i) PAN information (including date of application/creation for PAN, father s name/ husband s name, Date of birth (date of incorporation), photograph, signature (name of the signatory in case of non- individual); (ii) Name and PANs of partners in Partnership Firm and LLPs; (iii) KYC Information contained in IT Return (e.g. Email Id, Mobile number, address, etc.); (iv) IP address appearing on the acknowledgement of the filed IT return; (v) Financial particulars of the business as filed in ITR and Tax Audit Report including Income from trading in securities, Bank account details etc. (vi) Form 61A information reported by reporting entities under Rule 114E of the Income Tax Rules, 1962; (vii) Transactions reported by entities deducting tax at source (TDS) and collecting tax at source (TCS); and (viii) Any other information considered necessary for SEBI (to be decided on basis of mutual agreement between SEBI and CBDT). (b) Suo Moto exchange of data , wherein, information such as (i) List of scrutiny cases marked as having Evasion/Violation related to Stock Market Manipulation ; and (ii) Any other information considered necessary for SEBI (to be decided on basis of mutual agreement between SEBI and CBDT). (c) Automatic exchange of data , wherein, information such as (i) Form 61 as per Income Tax Rules, 1962 (information of an individual or a person (not being a company or firm) who does not have a PAN) submitted by SEBI regulated intermediary; and (ii) Any other information considered necessary for SEBI (to be decided on basis of mutual agreement between SEBI and CBDT). While furnishing the information, the specified income-tax authority shall form an opinion that sharing of such information is necessary for the purposes of enabling the SEBI to perform its functions under its respective laws. 3. To facilitate the process of furnishing information, Principal Director General of Income- tax (Systems) or Director General of Income-tax (Systems) would enter into a Memorandum of Understanding MoU ) with Nodal Officer, SEBI which inter-alia would include modalities of exchange of data, maintenance of confidentiality, mechanism for safe preservation of data, weeding out after usage etc. The time line for furnishing information shall also be decided by Pr. Director General of Income-tax (Systems) or Director General of Income-tax (Systems) in consultation with concerned Nodal officer of SEBI and included in the said MoU. 4. A copy of MoU signed shall be forwarded to this division for record purposes. 5. This issues with the approval of Chairman, CBDT. (Rajarajeswari R.) Under Secretary, (ITA-II), CBDT