The Government will study the world’s “Pandora Papers” business cases, which has appointed 300 wealthy Indians who have blocked their income abroad, with the aim of dodoting income tax On October 3, 2021, the International Consortium of International Journalists (herej) came with what is claimed to be a 2.94 Data The Data Trove exposed the offshore secrets of elite fortunes of more than 200 countries and territories.
“The Government has taken note of these developments. The relevant investigative agencies would undertake investigations in these cases and appropriate measures would be taken in such cases,” said the Central Directorate of Direct Taxes in a publication “In order to ensure an effective investigation in these cases, the Government will also proactively participate in foreign jurisdictions for information on relevant taxpayers / entities,” he added.
CBDT stated that India is also part of an intergovernmental group that boosts and shared experiences to effectively address the tax risks associated with such leaks.co.uk confidential records of 14 offshore service providers who offer offshore service providers. Professional services to individuals and rich companies looking to incorporate Shell. Companies, trusts, foundations and other entities in low or tax-free jurisdictions.
“It can be noted that the leaks of this type of Panama, HSBC, Panama Panama and Paradis have already taken note, the government has already promulgated the black money (undisclosed foreign income and assets) and the imposition of the law of the law. The tax, in 2015 with a goal for curbing black money, undisclosed foreign assets and income by imposing an appropriate tax and a penalty of this income, “said CBDT.
Non-disclosed appropriations of approximately RS 202 Crore (Status of 15.09.2021) were detected in the investigations made in Panama and Paradise paradise, added However, he said that only a few Indians (legal entities and individuals) appeared so far in the media. Even the ICIJ website (www.icij.org) has not published the names and other details of all entities The ICIJ website suggests that information will be published in phases and structured data related to the Pandora Papers survey will only be released in the days to come on its offshore leakage database,” said CBDT .
The government also led today that investigations in cases of Pandora Papers appearing in the media under the name “Pandora Papers” will be monitored via the multi-agency group, led by the CBDT. The group will also have representatives of the law enforcement management, the India Reserve Bank and Financial Intelligence.