No Information From Swiss Authorities On Black Money: Jaitley

BANGALORE: As soon as Narendra Modi took over charge as Prime Minister and promised to get back all the black money by setting up a SIT panel, there has been a series of speculations and denials from the both the Government and Swiss authorities about the reveling of the account holders list. And to put an end to this speculations Finance Minister Arun Jaitley reached out to the media stating that he has not received any communication from Swiss officials and the Govt in return is writing to Swiss authorities on it, reports IndiaTV.

Jaitley's comments followed media reports that Switzerland has prepared a list of names of Indian account holders who they suspect of not paying taxes. Jaitley said he was writing to the Swiss authorities for more information.

The development comes at a time when the official data published by Switzerland's central bank, SNB, has shown that Indian money in various Swiss banks rose by 43 percent during 2013 to close to 14,000 crore, while including the money held directly by Indian clients and those through fiduciaries or wealth managers.

Government has constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.

The SIT is being headed by former Supreme Court judge Justice M.B. Shah assisted by former Supreme Court judge Arijit Pasayat, who is named as the Vice Chairman of the SIT.

Secretary Revenue, Deputy RBI Governor, IB Director, ED Director, CBI Director, CBDT Director, Revenue Intelligence Director General, RAW Director are a part of the SIT.

(With inputs from PTI)
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