Black money: India to begin talks with Switzerland in Dec

The Swiss Banks Association had said Swiss law and even OECD8217;s Model Tax Convention do not permit fishing expeditions,in other words,the indiscriminate trawling through bank accounts in the hope of finding something interesting.

8220;This means that India cannot simply throw its telephone book at Switzerland and ask if any of these people have a bank account here,8221; said SBA Head of International Communications James Nason.

8220;We are fully aware of and we have no intention of having any roving enquiry,8221; Mukherjee said,adding that it would pursue the matter on the basis of specific information to help the tax authorities nail the defaulters.

Switzerland had last week reached an agreement with the US to give that country8217;s Internal Revenue Service details of 4,450 clients who Washington suspected of evading taxes.