• May
  • 23
  • 2012

DTAA with Switzerland -Black Money of Rs. 565 Crores Detected in 6 Months

Article ID 50298 | Posted In Income Tax | | 2 Comments » Print Friendly and PDF

Amended DTAA Between India and Switzerland Comes into Force ;

Undisclosed Income Worth Rs.565 Crore Detected and Tax Worth Rs.181 Crore Realized

The Amended Protocol between India and Switzerland amending the existing Double Taxation Avoidance Agreement (DTAA) between the two countries came into force on 7th October, 2011.

In 219 cases, undisclosed income of Rs. 565 crore has been detected and tax of Rs.181 crore realized so far.

This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam written reply to a question in Rajya Sabha today.

  • Neeraj

    it is not disclosed that for which year the undisclosed money have been caught it seems a year income however govt should detect at least from past 20 years so that revenue can come

  • Narayanan

    This is really good. they should also disclose the list of persons.