Black Money Swiss Bank Accounts

Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.

India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.

India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.

India's fight against suspected black money stashed abroad will get a major boost this September in the form of first set of detailed financial information about all Indians having Swiss bank accounts, including those closed since last year.

Money parked by Indians in Swiss banks rose over 50 per cent to 1.01 billion Swiss francs (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

The Committee on Economy and Royalties of the National Council or CER-N, a key panel of Swiss parliament which rejected on August 15 a proposal seeking to outrightly suspend implementation of the AEOI Switzerland has agreed to adopt with 41 nations including India, will examine the criteria a country would need to satisfy to start getting access to...

The deal will open a continuous access to details about alleged black money hoarders in once-all-secret Swiss banks.

India was placed at 75th position in 2015 and at 61st in the year before that.

On a day after India's biggest tax reform came into force, Prime Minister Narendra Modi on Saturday vowed to continue the crackdown on black money and announced that the government cancelled registration of one lakh firms over the last 48 hours and was probing 37,000 shell companies on suspicions of funneling black money.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland after its government formally ratified automatic exchange of financial account information with India on Friday. The move is meant to flush out black money, much of which is stacked in Sw...

In a big step towards fighting black money stashed overseas, Switzerland today agreed to automatic sharing of information with India on Swiss bank accounts of Indians as of September 2018 and onwards.

India will start getting financial information of accounts held by Indians in Swiss banks on automatic basis from September 2019, a move that will help fight the menace of black money stashed abroad.

Swiss black money whistleblower Rudolf Elmer has told NDTV that India can ask for fresh information on its citizens from the data he leaked in 2008 from a bank in Cayman Islands that he worked for.

Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.

India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.

India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.

India's fight against suspected black money stashed abroad will get a major boost this September in the form of first set of detailed financial information about all Indians having Swiss bank accounts, including those closed since last year.

Money parked by Indians in Swiss banks rose over 50 per cent to 1.01 billion Swiss francs (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

The Committee on Economy and Royalties of the National Council or CER-N, a key panel of Swiss parliament which rejected on August 15 a proposal seeking to outrightly suspend implementation of the AEOI Switzerland has agreed to adopt with 41 nations including India, will examine the criteria a country would need to satisfy to start getting access to...

The deal will open a continuous access to details about alleged black money hoarders in once-all-secret Swiss banks.

India was placed at 75th position in 2015 and at 61st in the year before that.

On a day after India's biggest tax reform came into force, Prime Minister Narendra Modi on Saturday vowed to continue the crackdown on black money and announced that the government cancelled registration of one lakh firms over the last 48 hours and was probing 37,000 shell companies on suspicions of funneling black money.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland after its government formally ratified automatic exchange of financial account information with India on Friday. The move is meant to flush out black money, much of which is stacked in Sw...

In a big step towards fighting black money stashed overseas, Switzerland today agreed to automatic sharing of information with India on Swiss bank accounts of Indians as of September 2018 and onwards.

India will start getting financial information of accounts held by Indians in Swiss banks on automatic basis from September 2019, a move that will help fight the menace of black money stashed abroad.

Swiss black money whistleblower Rudolf Elmer has told NDTV that India can ask for fresh information on its citizens from the data he leaked in 2008 from a bank in Cayman Islands that he worked for.