The govt to reveal list 60 names of Black money holdersTop Stories

February 09, 2015 10:51

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The govt is going to reveal the list of nearly 60 Indians and entities as it has recently initiated tax evasion prosecution proceedings against them as part of its crackdown on black money accounts as reported in the HSBC bank's Geneva branch list.

Time of India reported that, the list involves against whom the charges have been filed some corporates, business houses and other individuals, in which the income tax department has completed its probe and submitted its list of people on whom the cases have been charged .This was done on the direction of Special Investigation Team (SIT) that was constituted to tackle the black money and illegal assets held by Indians abroad.

SIT said that there might be nearly Rs 1,500-1,600 crore of the total amount in these accounts.

It also reported that under IT laws many cases have been registered in various courts of the country. These have been investigated by taxmen as these cases may get time barred by March 31 after which any legal action against these would be not valid because these all cases pertain to 2008-2009.

"The disclosure of these names is part of the government's commitment to curb cases of black money and of illegal funds stashed abroad by Indians. The I-T department aims to get a conviction in these cases very fast," they said.

-Arun Kumar

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black money  Black money  Business  Government