New Delhi:
The Centre has stuck to its stand that the names of Indians who hold accounts, allegedly for black money, in Germany's Liechtenstein Bank cannot be disclosed.
In an affidavit filed in the Supreme Court today, the Centre has said that it can't disclose the names of the account holders because of International Treaties and secrecy clause in the agreements.
The affidavit comes in the wake of searching questions posed by a bench of justices B Sudershan Reddy and S S Nijjar on a PIL filed by eminent jurist Ram Jethmalanai and others, seeking retrieval of black money stashed in banks abroad.
The affidavit also says that due to pressure from India, tax heavens have now agreed to end banking secrecy.
The government said it has initiated the process of negotiations with 65 countries to amend the existing Double Taxation Avoidance Agreement (DTAA) and broaden the scope of the article concerning exchange of information.
Meanwhile, action is being taken by the Income Tax Deptartment against the account holders. The Finance ministry has proposed a study to assess the black money inside and outside India and the study will list methods to bring the black money back. (With PTI Inputs)
In an affidavit filed in the Supreme Court today, the Centre has said that it can't disclose the names of the account holders because of International Treaties and secrecy clause in the agreements.
The affidavit comes in the wake of searching questions posed by a bench of justices B Sudershan Reddy and S S Nijjar on a PIL filed by eminent jurist Ram Jethmalanai and others, seeking retrieval of black money stashed in banks abroad.
The affidavit also says that due to pressure from India, tax heavens have now agreed to end banking secrecy.
The government said it has initiated the process of negotiations with 65 countries to amend the existing Double Taxation Avoidance Agreement (DTAA) and broaden the scope of the article concerning exchange of information.
Meanwhile, action is being taken by the Income Tax Deptartment against the account holders. The Finance ministry has proposed a study to assess the black money inside and outside India and the study will list methods to bring the black money back. (With PTI Inputs)
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