(MENAFN- Khaleej Times) The central government has completed assessment of 350 foreign accounts while tax-evasion proceedings have been initiated against 60 such holders as part of its crackdown on black money accounts, India's Finance Minister Arun Jaitley said Monday.
Reacting to a media report that over 1,100 Indians were in the list of clients who held accounts in HSBC bank's Geneva branch from 2006-2007, Jaitley said: 'The details that have come out today (Monday) are the ones we already have.'
'The question is not about names but evidences that we need. Some new names have been revealed whose veracity would be checked by authorities,' he said.
He added that 60 cases have been established through an independent probe by the income tax department.
Jaitley said the assessment of the balance accounts will get completed by March 31.
The Indian minister said the government could not proceed on the 'Swiss leaks' reports on the basis of some names.
The government had submitted the a list of about 628 such account holders to the Special Investigation Team appointed for the recovery of black money by the Supreme Court.
The authorities, in December, said in case of money stashed in foreign accounts, the disclosure relates to 628 Indians, who figured on a list of account holders in HSBC's Geneva branch that India has obtained from the France.
Of these, no balance has been found in 289 accounts, according to the SIT report submitted to the Supreme Court.
'Out of the 628 persons, 201 are either non-residents or non-traceable, leaving 427 cases as actionable,' the report said. 'An amount of Rs.2,926 crore has been brought to tax towards the undisclosed balances in the accounts (79).'
According to Indian Express, the prominent people on the HSBC list include:
Businessmen
Mukesh Ambani, Anil Ambani, Anand Chand Burman, Rajan Nanda, Yashovardhan Birla, Chandru Lachhmandas Raheja, Dattaraj Salgaocar, Bhadrashyam Kothari and Shravan Gupta.
Diamond Traders
Rusell Mehta, Anoop Mehta, Saunak Parikh, Chetan Mehta, Govindbhai Kakadia and Kunal Shah.
Politicians
Former UPA minister Preneet Kaur, former Congress MP Annu Tandon and family members of former Maharashtra chief minister Narayan Rane - his wife Neelam Narayan Rane and son Nilesh Rane - as well as family members of the late Congress minister Vasant Sathe, Bal Thackeray's daughter-in-law Smita Thackeray.
NRIs/PIOs
Swraj Paul, members of Manu Chhabria's family, Rajendra Ruia/Vimal Ruia and Naresh Kumar Goyal.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.