Citizens should disclose all their assets in India and abroad, an amendment to an existing law (such as the Prevention of Money Laundering Act) should come to force says Prashant Bhushan The system itself helps an individual to transfer illegal funds abroad by filtering those funds through tax havens and reinvesting them anonymously Black money can be transferred through … [Read more...] about Prashant Bhushan for law to curb black money
Black money
We’re Writing to the Swiss for Black Money List: Jaitley
Mr.Arun Jaitley, Union Finance Minister told they are writing a letter to the Swiss authorities to share details of black money hidden by Indians Government is expecting cooperation from the Swiss authorities to bring out best results Earlier Switzerland had not shared any data of Indians who evaded the taxes and stacked the unaccounted money abroad Zurich denied sharing … [Read more...] about We’re Writing to the Swiss for Black Money List: Jaitley
Switzerland to Share List of Indian Account Holders, India Ranks 58th
In terms of foreign lying in Swiss banks India stands 58th but it accounts for a meagre 0.15 per cent of an estimated $1.6 trillion of total wealth globally U.K. stands first followed by U.S., West Indies, Germany and Guernsey in the top-five in terms of exposure to banks in Switzerland The latest data released by Swiss National Bank Indian money rose by 43 per cent during … [Read more...] about Switzerland to Share List of Indian Account Holders, India Ranks 58th
Indian Money In Swiss Banks Swell
According to the latest data released by the Swiss National Bank, the funds held by Indians in Switzerland has increased to more than Rs. 14000 crore. This number is excluding the black money. A 40% rise was seen in 2013 alone. This is in stark contrast to the decreasing funds of other foreign nationals owing to the global clampdown gainst the famed secrecy wall of the … [Read more...] about Indian Money In Swiss Banks Swell
SIT on Black Money Charts Road Map
The SIT team has planned a road map to proceed further to retrieve the black money according to SC mandate SIT will also investigate funds generated through unlawful activities and salted away in overseas havens SIT will look into the pending, awaiting investigations as well SIT will take over the matter of investigation of the account holders in Liechtenstein banks whose … [Read more...] about SIT on Black Money Charts Road Map