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New Delhi: Income tax Anurag Thakur, Minister of State for the Treasury, said in a written to Rajya Sabha on Tuesday that government departments had issued notices involving 422 cases involving Foreign assets and income, as of December 31, 2019, revenue exceeded Rs 126 crore. Recover black money hidden abroad.

The notice was issued in with the Black Money ( Foreign Income and Assets) and Tax Collection Act, which came into effect on July 1, 2015.

Thakur said that in certain significant categories of foreign assets or income cases, details of actions taken by the tax authorities should be provided, Undisclosed income Taxes in excess of Rs. 8,460 crore have been levied and fines in excess of Rs. 1,29 crore were imposed on deposits in undeclared foreign bank accounts. HSBC Bank case. There were approximately 204 complaints.

"Ongoing investigations into the cases disclosed by the International Federation of Investigative Journalists (ICIJ) have resulted in the discovery of more than Rs 110.01 crore in foreign accounts to date. Thakur said:" About 99 have been filed Indictment. "

In the Panama Paper Leaks survey, it was found that the total amount of foreign investment exceeded Rs 15.5 crore. He added that some 38 indictments had been filed.

See also  Senior Manager-Direct Tax-EMEIA Tax Center

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