Free Press Journal
  • No claimants for Rs 300 crore lying in India-linked dormant Swiss bank accounts

    Zurich/New Delhi: It is the third year since Swiss banks made public a list of accounts lying dormant without any trace of owners and no claimant has come forward for those with Indian links, even as a political slugfest continues in India over alleged black money parked there.

  • India, Swiss banks and black money

    Last week, the political climate was charged with accusations that the government had actually begun encouraging the promotion of black money. Prima facie, the charges seemed to have some merit in them. Swiss bank deposits from India had swelled by 50%, one of the largest increases in recent times (see chart). But the accusation was a bit uncharitable. For three specific reasons.

  • Indians with illegal Swiss bank deposits to face harsh penal proceedings: Arun Jaitley

    New Delhi, Union Minister Arun Jaitley today warned that Indians having illegal deposits in Swiss banks would face harsh penal proceedings under the black money law after Switzerland starts real time sharing of details of accounts from January onwards. Latest data from the Swiss National Bank showed that money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017,

  • lalit Modi

    Court summons LaMo’s dad for tax evasion bid

    New Delhi : K K Modi, chairman of Modi Group and father of former IPL Commissioner Lalit Modi, was on Friday summoned as accused by a Delhi court in a blackmoney case filed by the Income Tax Department for allegedly attempting to evade tax by not disclosing money stashed in a Swiss bank.

  • Swiss keen on greater cooperation in black money fight: Jaitley

    Davos: Switzerland is “extremely keen” on greater cooperation in India’s fight against suspected black money stashed in Swiss banks and is putting in place a new law on automatic information exchange that will take about a year to come into force, Finance Minister Arun Jaitley has said.

  • India seeks Swiss help to probe Preneet Kaur a/c

    Berne/New Delhi : As Indian tax authorities continue to probe several citizens who are holding Swiss bank accounts, Switzerland on Tuesday said India has sought assistance in the investigation into accounts allegedly held by former Congress minister Preneet Kaur and her son Raninder Singh. Under the Swiss norms for ‘assistance’ in tax matters, which could involve sharing of account and other details, the Federal Tax Administration of Switzerland has also asked Kaur and Singh

  • Credit Suisse mulls moving UK jobs to India

    London : Swiss banking group Credit Suisse plans to cut nearly 2,000 jobs at its London base and move some of them to cheaper locations like India and Poland, a media report said. One of the world’s largest investment banks has indicated that about a third of its British workforce, who are based mainly in Canary Wharf in the financial hub of London, could go to cut costs. “We have 6,600 jobs [in

  • Blackmoney: CBDT rejigs panel to handle FATCA cases

    New Delhi :  The CBDT has rejigged a special committee formed to secure confidential tax data and initiate a check on instances of black money as part of mutual exchange of information with US authorities under the recently inked Foreign Account Tax Compliance Act (FATCA).

  • Sathe’s son, daughter-in-law get bail in black money case

    NEW DELHI : Son and daughter-in-law of former Union Minister Vasant Sathe were granted bail by a city court on Thursday in a black money case slapped on them by the Income Tax Department for having a joint Swiss bank account without disclosure.

  • ‘Govt to weed out root cause of black money’

    San Francisco :  In a stern message on black money, Finance Minister Arun Jaitley has said the government is targeting to weed out the root causes of this menace and a one-time compliance window will be announced in the next few days for those with undeclared assets abroad to come clean.

  • SWISS ANNIVERSARY GIFT

    New Delhi :  In a ‘gift’ to the Modi government on its first anniversary, the Swiss authorities revealed the names of five more Indians who have Swiss bank accounts and who are being investigated for alleged tax evasion in India.

  • More Swiss a/c names tumble out;Yash Birla among notified ones

    Berne: Industrialist Yash Birla, as also two Mumbai-based individuals behind City Limousines scam, are among five Indian nationals with Swiss bank accounts whose names have been made public in Switzerland’s official gazette with regard to ongoing tax probes against them in India. The other two are Gurjit Singh Kochar, son-in-law of late realty baron Ponty Chadha, and a Delhi-based businesswoman Ritika Sharma.

  • Black money: Swiss put out names of 2 Indians

    Berne :  Two Indian women figure among scores of foreign nationals with Swiss bank accounts, whose names have been made public by Switzerland in its official gazette for being probed in their respective countries.