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 :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TDS :: VAT RATES
 
 
« Direct Tax »
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT
 Govt expects direct and indirect tax targets to exceed budget estimates this fiscal
 Tax recovery from Swedish majors in payment dispute put on hold
 CBDT signs three more advance pricing pacts
 Central Board of Direct Taxes signs three more ‘Advance Pricing Agreements’, reaches 120 in total

No amnesty scheme to Indian account-holders of HSBC's Swiss unit
August, 09th 2012

The government on Wednesday said the Central Board of Direct Taxes (CBDT) had not offered any tax amnesty scheme to Indian account-holders of HSBC, Switzerland.

Minister of state for finance SS Palanimanickam replied in the negative to a written query in the Lok Sabha if the CBDT, the apex direct taxes body, had offered any "amnesty scheme" to wealthy citizens who had evaded taxes by hiding funds in accounts of Swiss unit of HSBC.

India had, a-year-and-a-half ago, received a list of 700 Indians from the French government about their bank accounts in HSBC, Geneva.

The minister also made it clear that there was no plan to give amnesty to tackle the issue of black money.

The government had set up a committee under the CBDT chairman to examine ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery. The panel submitted its report to the government in March 2012.

The minister informed the Lok Sabha that there is "no verifiable information" as to estimate black money brought back to the country till date.

Also, there is no verifiable information to estimate money deposited in foreign accounts by Indian, "which is exclusive of their legitimate foreign deposits", he added. Replying to another query, the minister said Swiss National Bank, the liability of Swiss banks towards Indians as on December 31, 2011, was $2.245 billion.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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