Crack Down On Shell Companies: Government To Watch PAN, Audit Reports

New Delhi: The income tax department and the ministry of corporate affairs (MCA) have signed a pact to regularly share data, including PAN and audit reports of firms, to crack down on shell companies, the government said today. The pact aims at curbing the menace of money laundering, black money and misuse of corporate structure by shell companies, a finance ministry statement said. The MoU for Automatic and Regular Exchange of Inf...