Thursday, October 19 2017

July 21, 2017

Rs 19000 cr black money in ICIJ, HSBC cases detected by IT dept

Finance Minister Arun Jaitley said in a written reply that income tax department has detected over 19 thousand crore rupees in black money following investigations into global leaks including HSBC account holders in Switzerland.I Finance Minister Arun Jaitley said, investigations into information put into public domain by the ICIJ, about 700 Indian persons allegedly linked to offshore entities, have led to detection of over 11 thousand crore rupees of credits in undisclosed foreign accounts said Mr Jaitely.FM said, information on 628 Indian persons holding bank accounts in HSBC bank in Switzerland was received from the government of France and after systematic investigation, undisclosed income of about 8,437 crore rupees was brought to tax till May this year.