Swiss Bank Account

Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70 per cent in 2023 to a four-year low of 1.04 billion Swiss Francs.

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.

The Enforcement Directorate (ED) on Monday said it has seized Rs 2.74 crore worth assets of a Kolkata-based business family which allegedly held a Swiss bank account and whose name figured in the Panama Papers leak.

Embattled Swiss banking giant Credit Suisse has failed to disclose more than $700 million in previously undeclared accounts since 2014, in violation of a plea deal with the US Department of Justice, a Senate committee said Wednesday.

The musician himself told the New York Times that he was certainly not a businessman and did not himself own millions, according to the indictment.

India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange.

A leak of data from a leading Swiss bank has revealed information about 600 accounts linked to 1400 Pakistani citizens, media reports said on Sunday.

UBS Group AG was sued by a couple who said the Swiss bank should not have disclosed the wife's account information to the Internal Revenue Service because she was not a U.S. citizen.

India will get this month the third set of Swiss bank account details of its nationals under an automatic exchange of information pact with Switzerland and this will include for the first time the data about real estate properties owned by Indians.

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.

The Government of Switzerland has issued public notices for sharing of details with India about Swiss bank accounts and other financial assets of Congress leader Kuldeep Bishnoi and his wife Renuka following receipt of an ''administrative assistance'' request from the Indian authorities.

This marks the second consecutive year of decline in aggregate funds of Indian clients with all Swiss banks.

Five Swiss bank accounts and other assets worth around Rs 385 crore of Rajiv Saxena, a middleman in the AgustaWestland money laundering case, have been attached, the Enforcement Directorate said on Friday.

Switzerland's tax authorities today issued public notices for Indian businessman Ratul Puri, his father and two offshore firms linked to them after India sought details of their Swiss bank accounts for allegedly having illicit funds.

The Finance Ministry has declined to share Swiss bank account details of Indians saying it is covered under "confidentiality provisions" of a tax treaty signed between India and Switzerland.

Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70 per cent in 2023 to a four-year low of 1.04 billion Swiss Francs.

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.

The Enforcement Directorate (ED) on Monday said it has seized Rs 2.74 crore worth assets of a Kolkata-based business family which allegedly held a Swiss bank account and whose name figured in the Panama Papers leak.

Embattled Swiss banking giant Credit Suisse has failed to disclose more than $700 million in previously undeclared accounts since 2014, in violation of a plea deal with the US Department of Justice, a Senate committee said Wednesday.

The musician himself told the New York Times that he was certainly not a businessman and did not himself own millions, according to the indictment.

India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange.

A leak of data from a leading Swiss bank has revealed information about 600 accounts linked to 1400 Pakistani citizens, media reports said on Sunday.

UBS Group AG was sued by a couple who said the Swiss bank should not have disclosed the wife's account information to the Internal Revenue Service because she was not a U.S. citizen.

India will get this month the third set of Swiss bank account details of its nationals under an automatic exchange of information pact with Switzerland and this will include for the first time the data about real estate properties owned by Indians.

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.

The Government of Switzerland has issued public notices for sharing of details with India about Swiss bank accounts and other financial assets of Congress leader Kuldeep Bishnoi and his wife Renuka following receipt of an ''administrative assistance'' request from the Indian authorities.

This marks the second consecutive year of decline in aggregate funds of Indian clients with all Swiss banks.

Five Swiss bank accounts and other assets worth around Rs 385 crore of Rajiv Saxena, a middleman in the AgustaWestland money laundering case, have been attached, the Enforcement Directorate said on Friday.

Switzerland's tax authorities today issued public notices for Indian businessman Ratul Puri, his father and two offshore firms linked to them after India sought details of their Swiss bank accounts for allegedly having illicit funds.

The Finance Ministry has declined to share Swiss bank account details of Indians saying it is covered under "confidentiality provisions" of a tax treaty signed between India and Switzerland.