CBDT signs MoU with MSME for Data Sharing

Published on July 21, 2020
Current Context: The Central Board of Direct Taxes (CBDT) has signed MoU Ministry of MSME.
CBDT signs MoU with MoMSME for Data Sharing
  • The MoU will allow the sharing of data by CBDT to MSME ministry.
  • With the help of this agreement, the sharing of ITR (Income Tax Return) is possible for CBDT to the ministry of MSME. 
  • This will thus help to appropriately classify the MSME as Micro, Medium and Small ones.
  • To have a tracking record of this data sharing process, a Nodal Officer and Alternate Nodal Officer will be appointed to manage the process.
  • Static Part: 
    • Union Minister of MSME: Nitin Gadkari
    • HQ of CBDT: New Delhi
    • Chairman of CBDT: Pramod Chandra Mody

Question: 

Q.1 Which organisation signed MoU with MSME ministry for data sharing?
a. CBDT
b. SIDBI
c. NABARD
d. Exim Bank

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