கார்த்திக் நீலகிரி
On a positive note, we can hope to get a lot more than the assured 15 lakhs... Jai Hind...
//Funds held by Indians in Swiss banks rose to Rs 20,700 crore in 2020, highest in 13 years, data released by Switzerland's central bank has revealed. 'Other amounts due to customers' from India rose over six times. These are official figures reported by banks to the SNB and do not indicate the quantum of the much-debated alleged black money held by Indians in Switzerland. These figures also do not include the money that Indians, NRIs or others might have in Swiss banks in names of third-country entities.//
//Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.//
//An automatic exchange of information in tax matters between Switzerland and India has been in force since 2018. Under this framework, detailed financial information on all Indian residents having accounts with Swiss financial institutions since 2018 was provided for the first time to Indian tax authorities in September 2019 and this is to be followed every year. In addition to this, Switzerland has been actively sharing details about accounts of Indians suspected to have indulged in financial wrongdoings after submission of prima facie evidence. Such exchange of information has taken place in hundreds of cases so far.//
Indians' funds in Swiss banks climb to Rs 20,700 crore, highest in 13 years
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