The Following Swiss government preparing list of Indians who are
suspected to have stashed un-taxed amount with the banks there, the
government is now gearing up to tackle the issue legally.The ‘special
investigation team’ (SIT) headed by Justice MB Shah said the list will
be verified and action will be taken on guilty.Sources, said the list
has mixed – legal and illegal accounts – one. “It needs to be verified
and the account holders are legal stand, we cannot do anything,” sources
said. It all depend in which manner the account is opened and amount
deposited, it added.The names of these Indian individuals and entities
have come under scanner of the Swiss authorities during an ongoing
exercise to identify real beneficiary owners of funds, a senior Swiss
official reported to have said.”These individuals and entities are
suspected to have held un-taxed money in Swiss banks through structures
like trusts, domiciliary companies and other legal entities based out of
countries other than India.”Swiss authorities are working with the
Indian government and providing all necessary support to the newly set
up Special Investigation Team (SIT) on black money.However, the
officials dismissed that the amount stashed runs in to trillions of
dollars. The total foreign money parked in 283 Swiss banks itself pegged
at $1.6 trillion. And Indian exposure will be about 2.03 billion Swiss
francs (Rs 14,000 crore), officials clarified.
