Former CBDT Chairman Nitin Gupta Appointed as Chairperson of National Financial Reporting Authority (NFRA).
Appointment
On July 17, 2025, the Appointments Committee of the Cabinet (ACC), led by Prime Minister Narendra Modi, appointed Nitin Gupta as the new chairperson of the National Financial Reporting Authority (NFRA), functioning under the Ministry of Corporate Affairs (MoCA). He will serve a three-year term or until the age of 65, whichever comes earlier.
- Nitin Gupta takes over the position from Ravneet Kaur, who was holding additional charge since April 2025. The post had remained vacant following the completion of Ajay Bhushan Pandey’s three-year term on March 31, 2025.
- The ACC also announced the appointment of Smita Ghingran, P. Daniel, and Sushil Kumar Jaiswal as full-time members of NFRA, strengthening the regulatory body’s composition.
- Nitin Gupta is a 1986-batch Indian Revenue Service (IRS) officer from the Income Tax cadre. He has previously served in several high-ranking positions in financial regulation and taxation.
Main Point :- (i) Nitin Gupta served as the Chairman of the Central Board of Direct Taxes (CBDT) under the Ministry of Finance (MoF) from July 1, 2022, to June 30, 2024. During his tenure, he was instrumental in digitizing tax processes and enhancing compliance.
(ii) Before his CBDT role, he was Director-General (DG) at the Competition Commission of India (CCI), further solidifying his experience in policy enforcement and economic governance.
(iii) NFRA, headquartered in New Delhi, was constituted on October 1, 2018, under Section 132 of the Companies Act, 2013. It is responsible for recommending accounting and auditing standards, monitoring compliance, improving audit quality, and initiating disciplinary action against auditors when necessary.
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