To find dormant firms, I-T dept to share tax details of companies with govt

Dept will share PAN, ITRs, audit reports and SFT with corporate affairs ministry

The Income Tax (I-T) department will soon share PAN (permanent account number) and ITR (I-T returns) details of companies with the corporate affairs ministry, amidst the government stepping up efforts to curb the menace of black money.

The sharing of the "bulk information" is primarily aimed at identifying dormant companies that are misused for tax evasion and money laundering.

The Central Board of Direct Taxes (CBDT), which frames policy decisions for the tax department, on Thursday issued an order on stipulated sharing of bulk I-T data with the Ministry of Corporate Affairs.

According to the order, accessed by PTI,