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of <h1>CBDT Authorizes Income-Tax Head to Share PAN, KYC, and Financial Data with SEBI Under Section 138(1)(a)</h1> The Central Board of Direct Taxes designates the Principal Director General of Income-tax (Systems) as the authority to provide specified income-tax information to the Securities and Exchange Board under section 138(1)(a) of the Income Tax Act. Information exchange includes request-based data such as PAN details, KYC, financial particulars, and transaction reports; suo moto data like scrutiny cases involving stock market manipulation; and automatic data including Form 61 submissions. Sharing is contingent on the authority's opinion that it is necessary for SEBI's regulatory functions. A Memorandum of Understanding between the income-tax authority and SEBI will govern data exchange procedures, confidentiality, data preservation, and timelines. The MoU must be submitted for record, and the directive is issued with the approval of the CBDT Chairman.
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