Rs 181 cr tax recovered based on French tip-off
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The government on Thursday 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 SS Palanimanickam said in a written reply in the Rajya Sabha. He 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.
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