The tax department has conducted almost 50 searches over the last month wherein they have made a recovery of Rs 300 crores from several tax evaders. The move follows after the receipt of details regarding 700 bank accounts with HSBC in Geneva from the French government.
Summons have also been issued to MP’s from Haryana, Uttar Pradesh and Kerala to appear for questioning in the department’s Delhi office which has been recently set up with the Directorate of Criminal Investigation (DCI). They would be asked to explain the source of funds in the Geneva accounts. The officials also suspect that the undisclosed funds of Indians in HSBC Geneva may add upto Rs 4,000 crores.
[Source : The Times of India]
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