CAG and CBDT sign MoU to enhance operational effectiveness - World News Network

New Delhi [India], September 24 (ANI): The Office of the Comptroller and Auditor General of India entered into a Memorandum of Understanding (MoU) with the Central Board of Direct Taxes (CBDT) here on Tuesday. The MoU was signed by Ravi Agrawal, Chairman, CBDT, and AM Bajaj, Dy CAG (Commercial & CRA), in the presence of CAG K Sanjay Murthy.
Both organisations will collaborate to promote academic, training, and research interaction/cooperation in capacity development and research activities in areas of mutual interest.
The CAG emphasised that the signing of the MoU will significantly enhance professional cooperation and capacity-building efforts, particularly in data-driven technology, between the two Departments. This MoU will serve as a strategic framework to bridge the skills gap between the two institutions and foster mutual growth.
This partnership will focus on a range of initiatives, including training workshops, joint seminars, sharing audit insights based on advanced data analytics, and the use of innovative methods, such as remote audits, in GST audits and other areas/sectors, Murthy stated.
The CAG stated that since the goals of both institutions are aligned, the office of the C&AG can support the CBDT in strengthening the systems identified by the latter, as C&AG officials are being effectively trained in emerging technologies such as Artificial Intelligence and Machine Learning.
The CAG expressed confidence that this formalised partnership will promote transparency, enhance operational effectiveness, and drive regulatory changes based on audit insights, thereby contributing positively to the overall financial and governance ecosystem.
Additionally, the CAG noted that the collaboration would support mutual development in skills and knowledge, particularly in adapting to changes such as the new simplified IT Act.
Murthy emphasised the importance of equipping revenue audit officials with up-to-date training from the CBDT on the rules and regulations in view of the new IT regime 2025. He also offered to share audit expertise for strengthening procurement procedures and internal control.
Ravi Agrawal, Chairman, CBDT, stated that the constant dialogue and training infrastructure available in the Audit Department will further enhance tax administration and help improve the learning curve of tax officials in the Income Tax Department.
He also shared details of the transition from the IT Act 1961 to the new IT regime 2025. He stated that there is a shift in approach from the earlier intrusive to a prudent and non-intrusive approach. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News