September 12, 2021 11:15 pm
While it would be the third time that India will get details about bank accounts and other financial assets held by Indians in Switzerland, it will be the first time that the information being shared with India would include information about the real estate assets.
July 21, 2021 12:38 am
Last month, the Finance Ministry had sought details from the Swiss authorities on the relevant facts along with their view on possible reasons for changes in funds parked by Indian individuals and entities in 2020.
June 18, 2021 2:14 pm
hile the funds classified as 'customer account deposits' have actually declined from CHF 550 million at the end of 2019 and those through fiduciaries also more than halved from CHF 7.4 million, the money held via other banks rose sharply from CHF 88 million in this period.
June 25, 2020 8:07 pm
These are official figures reported by banks to SNB and do not indicate the quantum of the much-debated alleged black money held by Indians in Switzerland.
September 01, 2019 7:15 pm
This is not a new measure. In 2016, India and Switzerland had signed an information-sharing deal on bank accounts, which was to come into effect from September 2019.
August 31, 2019 7:57 pm
Central Board of Direct Taxes (CBDT, which frames policy for the Income Tax Department, said that this is a significant step in the government's fight against black money and the era of "Swiss bank secrecy" will finally be over from September.
July 10, 2019 3:14 pm
Pointing to volume, Swiss office says several dispatches may be needed. According to the two Swiss agencies, India is among 73 countries with whom information on bank accounts will be shared this year — AEOIs were implemented with 36 countries last year.
November 21, 2018 10:23 pm
The case relates to a mortgage taken out by Rose Capital Ventures, one of Mallya's companies, with the 62-year-old businessman, his mother Lalitha and son Sidhartha, listed as having the right of occupancy on the property.
June 28, 2018 11:36 pm
On Supreme Court's direction, the government had constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.
October 18, 2017 12:31 pm
The state of NRW has for years irritated Switzerland by buying data as part of a crackdown on Germans stashing cash in secret accounts to avoid paying tax. The state has spent 17.9 million euros since 2010 on data that has helped it recover nearly 7 billion in tax revenue.