The two are believed to have discussed the controversy surrounding Raje.
According to sources, before meeting Shah, Jaitley also met Prime Minister Narendra Modi.
Jaitley had returned from a week-long visit to the US yesterday.
Soon after landing at the airport, Jaitley had told reporters while replying to a question related to Raje and External Affairs Minister Sushma Swaraj that there is "nobody who is tainted".
Sushma Swaraj is being accused of helping Modi in getting British travel documents on "humanitarian grounds" to travel to Portugal in 2014 after his Indian passport stood revoked. Raje is accused of testifying in favour of Modi's British immigration application in 2011.
(IANS)