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Section 138(1) facilitates exchange of information about tax evaders by the Income-tax Department with other tax authorities orenforcement authorities. The Central Board of Direct Taxes (CBDT) has notified ‘Scheduled Commercial Banks’ listed in the Second Scheduleof the Reserve Bank of India Act, 1934 for the purpose of sharing of information.Section 138(1) facilitates exchange of information about tax evaders by the Income-tax Department with other tax authorities orenforcement authorities. The Central Board of Direct Taxes (CBDT) has notified ‘Scheduled Commercial Banks’ listed in the Second Scheduleof the Reserve Bank of India Act, 1934 for the purpose of sharing of information.taxmann.com Latest Statutory HappeningsRead More