Black money trail: No list of Indians holding money in Swiss banks, says Arun Jaitley

Jul 09 2014, 10:54 IST
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He said following amendments to the DTAC with Switzerland on October 7, 2011, India has made several requests seeking information about its nationals holding bank accounts in Swiss Banks. He said following amendments to the DTAC with Switzerland on October 7, 2011, India has made several requests seeking information about its nationals holding bank accounts in Swiss Banks.
SummaryIndia has been told that there is no list of Indian tax residents holding assets...

and assessment of income etc regarding specific taxpayers cannot be disclosed," she said.

Sustained efforts have been made to obtain information about Indians having black money stashed abroad have resulted in levy of taxes and penalty and launching of prosecution in appropriate cases, she said in response to another question.

"However, it is not possible to state by which date black money would be brought back," she added.

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