60 More Black Money Holders Names

February 09, 2015 10:08
60 More Black Money Holders Names

The Union government will reveal about 60 Indians and entitles who have black money in foreign banks. The Income Tax has completed its probe against the black money account holders and the government has initiated the tax evasion prosecution, as per the directions of Special Investigation Team [SIT] constituted by the Supreme court to crack down the black money issue. The total amount of these 60 entities might tune up to Rs 1,500 to Rs 1,600 crores.

The black money issue is NDA government's commitment to curb the illegal funds stashed by Indians in foreign banks and already the government has revealed few names. However, the Supreme Court is not happy with the government's response to tackle the case more effectively and asked to wrap the cases in a time frame. The cases filed against the he black money account holders will expire by March 31st after which any legal action against them could not be carried out as the cases pertain to the period of 2008-2009. The IT department wants to get conviction in these cases as soon as possible.

It would another huge success to the NDA government, which has been criticised of being biased after coming into power. Despite all odds and heavy pressure, the government is revealing the list of black money holders in smaller proportions.


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Tagged Under :
Black Money  Swiss Bank