Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TDS :: list of goods taxed at 4%
 
 
General »
 Companies should invest in upgradation of tax technology
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court

Government realises Rs 181 cr tax based on info provided by France
December, 21st 2012

The government today said tax authorities have realised Rs 181 crore on undisclosed income of Rs 565 crore detected so far on the basis of information provided by the French government relating to certain bank accounts in a Switzerland bank.

"On the request of the government and persistent follow up in June 2011, France has provided details of Indians having bank accounts in one of the banks of Switzerland, under the provisions of Double Taxation Avoidance Convention (DTAC) between India and France," Minister of State for Finance S S Palanimanickam said in a written reply in the Rajya Sabha.

Investigation conducted led to detection of undisclosed income of about Rs 565 crore and realisation of taxes of about Rs 181 crore, he said.

Palanimanickam also added that the investigation in the cases where information was received from France are under progress including with the foreign tax authorities to obtain more information.

Based on the information received from the Government of France relating to certain bank accounts reportedly held by certain individuals or non-individuals in a foreign bank, he said, investigations have been undertaken by different jurisdictional authorities under the Income Tax Act 1961.

In a separate response, Palanimanickam said government receives information from various countries regarding assets including bank accounts held abroad by Indians under the respective Double Taxation Avoidance Agreements (DTAAs) or Tax Information Exchange Agreements.

Based on information received since March 2009 under DTAAs regarding foreign bank accounts maintained by certain individuals or non-individuals, undisclosed income of about Rs 600 crore has been detected and taxes of about Rs 200 crore have already been realised, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions