Swiss Bank Accounts

Black money: I-T approaches Swiss authorities

New Delhi: The Income Tax department, probing the secret list of account holders in the Geneva branch of HSBC bank, has approached Swiss revenue authorities for banking data of certain individuals after investigations showed some of them reportedly had other accounts under fictitious names.

The department, which approached the Finance Ministry and the Central Board of Direct Taxes (CBDT) in this regard recently, has initiated the step in order to build a water tight case against those who have stashed illegal funds abroad and the action has been taken under the recently revised tax information exchange treaty between the two countries.

Top sources involved in the probe said that after India received the list, both the I-T department and the Enforcement Directorate (ED) have gathered vital leads on the financial investments of a certain number of individuals and it is suspected that a number of them hold other Swiss accounts under different names allegedly to evade the tax scanner.

The department, sources said, has also opened I-T assessments of a "specific number" of those named on the same list under the provisions of Wealth Tax laws. The department, through the foreign taxation wing of the CBDT, has approached Swiss authorities as India can now "get information even if it only has limited details regarding the person having bank accounts in Switzerland"....more

11:30 AM, Nov 18, 2012

Govt targeting the small fry, sparing the corrupt: Kejriwal

by CNN-IBN

New Delhi: India Against Corruption (IAC) activist-turned-politician Arvind Kejriwal has refused to accept the government's statement that explained that a probe had been initiated into the information provided by the government of France regarding several Indians who had accounts in foreign banks. Speaking to reporters, Kejriwal said he had five questions for the government. "Do you agree that the names and the amounts, that we disclosed, are there in the...

06:44 PM, Nov 10, 2012

Govt counters IAC, says details on black money being probed

by CNN-IBN

New Delhi: The government on Saturday countered India Against Corruption (IAC) activist Arvind Kejriwal's claims that it is not acting on the alleged black money list handed over by the French government in 2010. In a statement, the government said that the information received from the French government had been analysed and investigations were being carried out by different authorities under the Income Tax Act. "Information was received in June,...

04:19 PM, Nov 10, 2012

Congress MP Annu Tandon rubbishes Kejriwal's allegations

Congress MP Annu Tandon had rubbished all the allegations made by Arvind Kejriwal against her saying they are completely baseless and malicious. "I deny any such rubbish and whatever he is talking, I don't know about any such thing," she said. ...

08:54 PM, Nov 09, 2012

Swiss A/C holders will be made public if we win: BJP

by Press Trust of India

Washington: Bharatiya Janata Party would make public the names of 800 Indian account holders in Swiss Banks if it comes into power in the 2014 general elections, senior party leader Yashwant Sinha has said. "Of course, we will do. Of course, we will do," Sinha told a small audience at an event organised by a recently formed Washington-based Indian American think-tank Foundation for India and Indian Diaspora Studies (FIIDS). "Will...

05:53 PM, May 30, 2012

Name MPs who have Swiss bank accounts: Varun Gandhi

BJP MP Varun Gandhi filed a RTI on Friday saying that the government needs to name the MPs who have Swiss bank accounts. ...

01:53 PM, Nov 04, 2011

Govt not doing anything about black money: Advani

by Press Trust Of India

New Delhi: In the wake of comments by WikiLeaks chief Julian Assange about black money stashed abroad by Indians, BJP on Tuesday alleged that the UPA government was not making any effort to bring it back despite being pulled up by the Supreme Court. Speaking to reporters in Burdwan, West Bengal, after an election meeting, senior BJP leader L K Advani said "I have been stressing since 2008 that the...

06:46 PM, Apr 26, 2011

SC takes on government over blackmoney probe

by Press Trust Of India

New Delhi: "Was the government sleeping all these years on the issue of blackmoney," the Supreme Court said on Thursday while criticising the Centre's probe restricting to an individual and being evasive about the idea of an investigation by the Special Investigating Team. The apex court said the investigation into the issue of black money required complete and full-fledged involvement of government as the most important question was about the...

06:10 PM, Apr 21, 2011