CBDT fiat on information exchange

The Central Board of Direct Taxes has set the deadline for requests for Exchange of Information from treaty partners as February 29 for assessment cases getting time barred on March 31. “It becomes difficult to process and forward such requests after due scrutiny to the Foreign Competent Authority in time. Further, in many cases the EoI requests are not properly drafted and modification of these requests by the field officers is required,” it said in a missive, directing field offices to rectify all deficiencies before submission.