Govt must build trust for compliance window success: Kidwai

Last Updated: Tuesday, September 1, 2015, 16:25

The government needs to assure against any "witch-hunt" to make the compliance window under the new black money law a success and it's a "pity" that the people do not believe its credibility, HSBC's India head Naina Lal Kidwai has said.

Black money: Swiss banks ask Indians to utilise 'compliance window'

Last Updated: Sunday, August 30, 2015, 18:04

Spooked by the new black money law, a number of Swiss and other European banks have begun asking Indian clients to disclose their accounts to the tax authorities back home as they fear being accused of 'abetting' the hoarding of untaxed assets.

Now, Switzerland to publish list of dormant bank accounts

Last Updated: Sunday, May 31, 2015, 15:53

The Ombudsman further said that a new banking law, which has come into force this year, has mandated that "assets over 500 Swiss franc that have been dormant for 50 years, that is 60 years after the last contact, have to be published. "If, following this publication, no justified claims are reported, the assets must be liquidated and their net proceeds will be transferred to the Swiss Confederation.

Swiss accounts: India seeking details on foreign entities too

Last Updated: Tuesday, May 26, 2015, 23:12

Indian nationals are not the only ones about whom India's tax authorities have sought details from Switzerland as they have also requested for information on some foreign entities, mostly based in tax havens.

Yash Birla has 'no individual account' in his name, says group

Last Updated: Tuesday, May 26, 2015, 20:38

With Yash Birla's name being made public by the Swiss government in relation to an information request from the Indian tax authorities, his business group Tuesday said he has "no individual bank account in his name or under his control".

Swiss move gives enough hints of action to follow: FM

Last Updated: Tuesday, May 26, 2015, 18:52

'Delighted' at Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitley on Tuesday said this should provide enough indications of actions to follow for those holding unaccounted assets outside India.

Yash Birla, Gurjit Singh Kochar among seven Indian names made public for Swiss a/c

Last Updated: Tuesday, May 26, 2015, 15:46

The names of these seven "Indian nationals" have been published in Switzerland's Federal Gazette with regard to details sought about them by the Indian authorities.

Ex-UBS banker pleads not guilty in major tax fraud case

Last Updated: Wednesday, January 8, 2014, 02:01

A former high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts pleaded not guilty on Tuesday to fraud conspiracy charges linked to a U.S. tax evasion investigation that shook Swiss banking to the core.

Spain PM resists resignation demands amid scandal

Last Updated: Tuesday, July 16, 2013, 08:46

Spain`s prime minister has brushed off demands he should resign after text messages emerged showing him comforting a political party treasurer under investigation over a slush fund and secret Swiss bank accounts.

Black money: Swiss bank accounts of Mumbai businessman frozen

Last Updated: Tuesday, October 9, 2012, 16:56

The Mumbai unit of the agency, has said in its request to Swiss authorities, that it is probing "the City group and its Chairman Sayed Mohamed Masood for money laundering".

Drive against blackmoney ongoing process: Govt

Last Updated: Wednesday, March 28, 2012, 16:53

Government on Wednesday said it is taking various measures, including use of information technology, as part of its drive to check blackmoney and tax evasion.

'Some persons having A/c in Swiss banks paid Rs 180cr as tax'

Last Updated: Monday, March 26, 2012, 20:19

Some persons with accounts in a Swiss bank have paid taxes amounting to about Rs 180 crore so far, Finance Minister Pranab Mukherjee has said in Parliament. He did not disclose any name.