New Delhi: A Memorandum of Understanding was signed on Monday between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises for sharing of data.
The MoU will facilitate seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to the MSME ministry.
This data will enable the ministry to check and classify enterprises in Micro, Small and Medium categories.
The MoU marks the beginning of a new era of cooperation and synergy between the CBDT and the ministry, according to a Finance ministry statement here.
