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The lesson states that the CBDT is also India's official designated unit for a specific international body dealing with money laundering and terrorist financing. Which body is that?
Answer & Solution
Correct answer: C.
1. The lesson assigns CBDT an international designation in addition to its domestic role.
2. The CBDT is India's official Financial Action Task Force (FATF) unit.
3. The OECD, G20 and IMF play other policy roles but the CBDT is not their official designated FATF arm.
4. So FATF is the right answer.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._
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