-PTI BJP MPs will submit tomorrow declarations to the presiding officers of their respective Houses of Parliament, stating that they do not have any illegal money stashed in any foreign bank or tax haven abroad. BJP leader L K Advani had announced on the completion on his nation-wide yatra against black money and corruption that all party MPs will submit declarations that they do not have any illegal funds in Swiss banks...
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‘Massive’ collections in Swiss black money probe by Ritu Sarin
Investigations say they have already mopped up a “massive amount” — running into “hundreds of crores” — as unpaid taxes from among the 700 numbered bank accounts held by Indians in HSBC Bank in Geneva in the ongoing scrutiny of what is considered a sprawling black money trail. In fact, Rs 40 crore has been recovered from Delhi-based account holders and Rs 60 crore from just one account holder in Chennai...
More »Black money: I-T department to probe 2,000 Indian accounts in Denmark, Finland by Pradeep Thakur
Even as the details given by France on Swiss bank accounts of Indians continue to cause ripples back home, Denmark and Finland have passed information about another 2,000 bank accounts to India, prompting the I-T department to launch an investigation. Sources said the I-T department's Directorate of Criminal Investigation (DCI) has been asked to probe these accounts. This is the third instance when foreign countries have shared details with Delhi about Indian...
More »Black money in Swiss banks down 50% since '06
-The Times of India The information on tax evaders and those who have stashed unaccounted money abroad has started trickling in, with the government admitting for the first time that total deposits of Indians in Swiss banks have come down by more than 50% in the last five years. The total liabilities of Swiss banks towards Indians have declined in the last five years. The deposits of Indians have come down from...
More »Tackling Black Economy: SC Takes Control from Government by Arun Kumar
The Supreme Court has converted a high-powered committee of the Government of India, on the issue of black money, into an SIT under its own direction. This is an expression of no-confidence in the executive. The government’s intention in tackling either the problem of black economy or bringing back the black savings stashed abroad is suspect. According to reports, the money stashed abroad by the corrupt businessmen, politicians and others...
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