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Chartered Accountants

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6 th Floor , M a yur B h a wan , Con na ught Circus, N e w De l h i- 11 0 001
Ph . No . 23 414 395 , Fa x No. 23412749 & 23417681
Email : .in

F. No. 1(153)/DIT(R)/I.T. Demand Cate./2015-16/1704                                                                 Dated: 15.02.2016

All the Pr. CCsIT/CcsIT & DgsIT


Sub:- Guidelines on the procedure to be followed for seeking information from Financial Intelligence Unit-India (FIU-IND) and confidentiality to be maintained in handling such information-reg.

Kindly refer to the above mentioned subject.

As you are aware , FIU - IND is an intelligence organization under Ministry of F i nan c e and pro vi des i nformat i on to designated agencies as per the established protocol of sharing of information . Information is provided by FIU-IND under section 66 of the Prevention of Money Laundering Act, 2002.

2. I t has been i nformed by the FIU-IND that it i s in receipt of numerous letters and notices under section 133 ( 6 ) , of Income Tax Act from various field units of CBDT calling for information regarding bank accounts , assets etc . of the assessees which are requ i red for re c overing tax arrear s.

3. Financial Intelligence Unit-India ( FIU - IND ) is the designated authority under Prevention of Money l aundering Act , 2002 ( PMLA ) to receive information from different reporting entities . A c cordingly , it has a database of , inter alia , bank accounts and transactions therein , transaction in securities , insurance premium paid on po l icies etc.

4. FIU - IND share s i nformation spontaneously and on request basis with , inter alia CBDT under Section 66 of PMLA . Also , Central Board of Direct Taxes ( CBDT) and FlU - IND have executed Memorandum of Understanding ( MOU) for exchange of information . On the basis of these , Income Tax Authorities under CBDT can seek information from FIU-IND for both domestic bank accounts etc as well as those from foreign countries . Such information may be extremely useful for  recovery from bank accounts hitherto unknown to Income Tax Authorities or bringing to tax the transact i ons that might have been done through undisclosed bank account(s).

5. I t is seen that while sending requests to obtain information from F IU - IND a simple letter by the AO/TRO/CIT is sent to this office without filling i n& signing t h e Annexu r e­ I & II prescribed as per CBDT letter dated 29 . 09 . 2011 . The copy of l etter of C B DT dated 29 . 09 . 2011 is enc l osed herewith vide which t he procedure for seeking information from FIU-IND has been prescribed . The field authorities may be directed to go through this letter and Annexure I & II which are to be filled in and signed by the concerned Pr. C I T.

6. I t is reiterated that requests to F IU - IN D may be made on l y through this Directorate as the F I U-IND will not entertain direct requests from the F i eld Authorities/Officers .

7. It may be noted by all I ncome Tax Autho r ities in field formation that information received f r om F I U- IN D is confidential and utmost confidentiality must be maintained in handling and with respect to custody of such information. I t should be protected from unau t horized use and proliferation . The information received from F I U-IND , domestic as well as foreign , needs to be treated as intelligence and the same be further developed by the department's own investigation . Accordingly , F I U-IND will not be mentioned as the source of information in any place or occasion or documen t like assessment order / correspondence etc , except when required by a competent court of law.

8. This is issued with the prior approval of the Competent Authority

Yours faithfully

Encl. : As above .

(Yduvir Singh)
Joint DIT (Recovery)

Download Annexure- Click Here >>

Guidelines on the procedure to be followed for seeking information from Financial Intelligence Unit-India (FIU-IND) and confidentiality | 15-02-2016 |

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