CBDt not to share data received under the DTAA with Germany with any other Agency

CBDT Clarification Regarding Information Received Under the DTAA With Germany

It has been reported in some sections of the press that the Central Board of Direct Taxes (CBDT) has shared details of 18 individuals found to have stashed illegal funds abroad in LGT bank accounts.

In this connection, it is clarified that the CBDT has not shared any information received under the DTAA with Germany regarding Indians having accounts in the LGT bank, Liechtenstein, with any other agency. The CBDT has also not authorised the use of the information received for any purpose other than tax purposes.

Related posts:

1. CBDT issued notices to those having a/c with LGT Bank, Germany
2. Swiss government agreed to share data on tax evasion cases with India
3. India receives info on around 1,500 transactions from Denmark and Finland under DTAA
4. Scheme of taxation of royalties or fees for technical services received by a tax resident of Germany having its PE in India
5. DTAA Does Not Protect Tax Evaders – SC strongly disapproved the stand taken by the Government that the names of the tax evaders was a ‘secret’ and could not be revealed under India-Germany DTAA