Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2a635c2df0-trace').style.display = (document.getElementById('cakeErr67f2a635c2df0-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f2a635c2df0-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2a635c2df0-code').style.display = (document.getElementById('cakeErr67f2a635c2df0-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2a635c2df0-context').style.display = (document.getElementById('cakeErr67f2a635c2df0-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f2a635c2df0-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-The Hindu
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&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;
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&amp;nbsp;
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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.
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In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
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In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.
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&lt;br /&gt;
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&lt;em&gt;Unaccounted income&lt;/em&gt;
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&lt;br /&gt;
&lt;/div&gt;
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Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;
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&lt;br /&gt;
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The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.
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Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.
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&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;
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Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the
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&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.
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-The Hindu


&amp;nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&amp;nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Unaccounted income&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 10572,
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-The Hindu
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&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;
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&amp;nbsp;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Unaccounted income&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
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-The Hindu


&amp;nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&amp;nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Unaccounted income&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;
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-The Hindu


&nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,..."/>
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                <strong>‘9,900 pieces of information on black money obtained&#039;</strong></h1>
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                <div style="text-align: justify">-The Hindu</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em></div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Unaccounted income</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Mispricing detected'</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.</div><div style="text-align: justify"><br /></div>               </font>
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-The Hindu
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&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;
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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.
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In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
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In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.
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Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;
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Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.
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-The Hindu


&amp;nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&amp;nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Unaccounted income&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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	&#039;title&#039; =&gt; &#039;‘9,900 pieces of information on black money obtained&amp;#039;&#039;,
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-The Hindu
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&amp;nbsp;
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&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;
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&amp;nbsp;
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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.
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In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&lt;br /&gt;
&lt;/div&gt;
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&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Unaccounted income&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.
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&lt;br /&gt;
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-The Hindu


&amp;nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&amp;nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. 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-The Hindu


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Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,..."/>
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                <strong>‘9,900 pieces of information on black money obtained&#039;</strong></h1>
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                <div style="text-align: justify">-The Hindu</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em></div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Unaccounted income</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Mispricing detected'</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.</div><div style="text-align: justify"><br /></div>               </font>
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&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;
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In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
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In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.
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Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Unaccounted income&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. 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India is also &amp;ldquo;constructively&amp;rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &amp;ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&amp;rdquo; Mr. Mukherjee said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;&amp;lsquo;Mispricing detected&#039;&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
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&lt;em&gt;Unaccounted income&lt;/em&gt;
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Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &amp;ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&amp;rdquo;
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&amp;ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&amp;rdquo; he said.
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-The Hindu


&amp;nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&amp;nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &amp;ldquo;noteworthy&amp;rdquo; achievements and the progress made back home in unearthing unaccounted income.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In his inaugural address at the &amp;lsquo;Economic Editors&#039; Conference&#039; here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. 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-The Hindu


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Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,..."/>
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                <strong>‘9,900 pieces of information on black money obtained&#039;</strong></h1>
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                <div style="text-align: justify">-The Hindu</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em></div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Unaccounted income</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Mispricing detected'</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.</div><div style="text-align: justify"><br /></div>               </font>
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-The Hindu
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&nbsp;
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<em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em>
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Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.
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In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
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In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
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&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.
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Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;
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<br />
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The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.
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Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.
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Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...',
	'disp' => '<div style="text-align: justify">-The Hindu</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em></div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Unaccounted income</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Mispricing detected'</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.</div><div style="text-align: justify"><br /></div>',
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	'title' => '‘9,900 pieces of information on black money obtained&#039;',
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-The Hindu
</div>
<div style="text-align: justify">
&nbsp;
</div>
<div style="text-align: justify">
<em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em>
</div>
<div style="text-align: justify">
&nbsp;
</div>
<div style="text-align: justify">
Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
<em>Unaccounted income</em>
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
<em>&lsquo;Mispricing detected'</em>
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.
</div>
<div style="text-align: justify">
<br />
</div>',
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-The Hindu


&nbsp;


Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister


&nbsp;


Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend,...'
$disp = '<div style="text-align: justify">-The Hindu</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify"><em>Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister</em></div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the &ldquo;noteworthy&rdquo; achievements and the progress made back home in unearthing unaccounted income.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In his inaugural address at the &lsquo;Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>Unaccounted income</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: &ldquo;Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also &ldquo;constructively&rdquo; engaged with Mauritius to update the tax avoidance treaty in line with international practices.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. &ldquo;During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,&rdquo; Mr. Mukherjee said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>&lsquo;Mispricing detected'</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&ldquo;The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,&rdquo; he said.</div><div style="text-align: justify"><br /></div>'
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‘9,900 pieces of information on black money obtained'

-The Hindu   Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister   Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the “noteworthy” achievements and the progress made back home in unearthing unaccounted income. In his inaugural address at the ‘Economic Editors' Conference' here, Mr. Mukherjee noted that following sustained efforts to tackle the menace of black money over the last two years, the government was successful in creating an environment where a regular flow of banking information had started. In particular, while a huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 nations and four TIEAs (tax information exchange agreements) with four tax havens, investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress. “Specific requests in 333 cases (220 by Foreign Tax Division of the Central Board of Direct Taxes and 113 by the Financial Intelligence Unit) have been made by Indian authorities for obtaining information from foreign jurisdictions. Over 9,900 pieces of information regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of investigation,” Mr. Mukherjee said. Unaccounted income Giving details of other achievements, ostensibly in view of the flak that the government has been receiving in regard to black money, Mr. Mukherjee said: “Under the EOI Article of the DTAA with France, India has received some information regarding Indians having bank accounts. In 69 cases, the taxpayers have admitted to the unaccounted income of Rs.397.17 crore. Taxes of Rs.30.07 crore have also been paid.” The revised DTAA with Switzerland, the Minister said, would allow India to obtain banking information from the European nation in specific cases for a period starting from April 1, 2011. India is also “constructively” engaged with Mauritius to update the tax avoidance treaty in line with international practices. Besides, the investigation wing of the CBDT has also unearthed concealed income worth Rs.18,750 crore during the last two fiscals while over 30,700 pieces of domestic information on suspicious transactions are under investigation by various agencies. “During the first five months of the current financial year, concealed income of Rs.3,014 crore has been detected due to focused searches on the basis of information received from foreign jurisdictions,” Mr. Mukherjee said. ‘Mispricing detected' Furthermore, the Directorate of Transfer Pricing had detected mispricing of Rs.34,145 crore in the past two fiscal years and thereby prevented the outflow of this amount, while the “The Directorate of International Taxation has collected taxes of Rs.33,784 crore from cross-border transactions in the last two financial years,” he said.