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of <h1>CBDT appoints Principal DGIT to share bulk PAN and tax data with MCA under Section 138(1)(a) of Income Tax Act</h1> The Central Board of Direct Taxes designates the Principal Director General of Income-tax (Systems) as the authority to provide bulk information to the Ministry of Corporate Affairs under section 138(1)(a) of the Income Tax Act, 1961. The information includes PAN data, income tax returns, audit reports, specified financial transaction data, and associations between PAN and corporate identifiers, aimed at identifying dormant companies. A Memorandum of Understanding between the two authorities will govern data transfer, confidentiality, preservation, and disposal. The frequency and timeline for information sharing will be mutually agreed upon and documented in the MoU, which must be submitted to the tax department for record-keeping.
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