Order under section 138(1)(a) of the Income-tax Act, 1961 for sharing of Information between CBDT and FIU-IND for effective processing of Cash Transaction Reports
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, the 16th July,2020
Order under section 138(1)(a) of the Income-tax Act,1961
In exercise of powers conferred under section 138( I )(a) of I ncome-tax Act, 1961 (‘ Act’), the Central Board of Direct taxes (‘CBDT’) hereby directs that in addition to the Board, the Principal Director General of Income-tax (Systems), New Delhi shall also be the specified income-tax authority for furnishing/receiving information respecting assessees in relation to CTRs (Cash Transaction Reports) to Director, FIU-IND, who has been notified vide Notification No. 19/2013 dated 12 .03.2013 as one of the authorities by the Central Government for the purposes of sub-clause(ii) of clause (a) of sub-section (I) of section 138 of the Act.
2. The data /information to be furnished by the specified income-tax authority to FIU-IND on request basis shall be:
A. For CTRs where FIU-IND has provided PAN:
(i) PAN Name: (ii) Father/Husband’s Name (as applicable); (iii) PAN Address/Last ITR address: (iv) PAN Creation Date: (v) Date of Birth/Date of Incorporation; (vi) Last year of Return Filing; (vii) Gross Total Income Range (viii) Turnover Range : and (ix) Any other information. the modalities of which shall be decided by the specified authorities.
B. For CTRs where FIU-IND does not have PAN:
(i) A dump of PAN database with FIU-IND to enable it to search for the PAN
(ii) Once the PAN is available with FIU-IND. the data fie Ids as mentioned above shall be shared.
3. 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 FIU-IND to perform its functions under its respective laws.
4. To facilitate the process of furnishing/receiving information, the extant Memorandum of Understanding (‘ MoU’) between CBDT and FIU-IND dated 20.09 .2013 will be reviewed to include Principal Director General of Income-tax (Systems), New Delhi and also to lay down the modalities of data exchange which is to inter-alia include mode of exchange of data in the context of CTRs as specified above, mode of exchange of data in the context of STRs(Suspicious Transaction Reports) in view of shift from FINnet to Insight portal based data exchange of STRs between FIU-IND and CBDT, maintenance of confidentiality, mechanism for safe preservation of data, weeding out after usage and sharing of feedback regarding usefulness and data quality of information in STRs to FIU-IND etc . The time line for furnishing information shall also be decided by Pr. Director General of Income-tax (Systems) in consultation with FIU-IND and included in the said MoU .
5. A copy of MoU shall be forwarded to this division for record purposes.
Under Secretary, (ITA-II), CBDT
Copy forwarded to:-
1. PPS to FM/ Dir(FMO)/OSD TO MoS (R)/ PPS to RS/PPS to chairman, CBDT and all Members, CBDT
2. FATF Cell, DoR,CBDT
4 . Pr. DGIT (Systems), New Delhi
5. All Pro CCsIT/Pr. DGsIT for kind information
6. ADG(S)-4, New Delhi, for placing on the website:www.incometaxindia.Gov.in
7. JCIT, Date base Cell for uploading on www.irsofficersonline.gov.in
8. Guard File
Under Secretary, (ITA-II), CBDT