New Delhi: M C Joshi, a 1974-batch Indian Revenue Service (IRS) officer, on Monday took over as the Chairman of Central Board of Direct Taxes (CBDT), the nodal agency for all direct tax-related matters.

He replaces Prakash Chandra who retired on July 31.

Joshi has earlier served as the Chief Commissioner of Income Tax, Uttaranchal, and as Special Director in the Directorate of Enforcement, a finance ministry release said.

Besides, K Madhavan Nair, a 1975-batch IRS officer, has joined CBDT as a member.

CBDT has taken a number of initiatives in the last few months, including setting up of a Directorate of Income Tax (Criminal Investigation) or DCI, a specialised wing to probe cases of black money, money laundering and terror funding activities.