Customs And Excise

HSBC black money list: Tax officials probing 79 a/cs with Rs 4,479 cr

In first major disclosure about money held in Swiss banks, government today said Rs 4,479 crore is held in the accounts owned by Indians, who figured on the HSBC List, and the Income Tax Department has initiated action against 79 of such account holders.

National database on black money soon

The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.