So far, the Multi-Agency Group has submitted seven reports to the government.
The CBDT said that in five cases criminal prosecution complaints have been filed.
New Delhi: Finance ministry said on Monday that its investigations on expose by International Consortium of Investigative Journalists — Panama Papers — on black money held in tax havens by Indians “led to the detection of undisclosed credits of about Rs 792 crore.”
The CBDT said that in five cases criminal prosecution complaints have been filed. Following revelations made by the ICIJ in April 2016 about some Indians having linkages with entities in offshore in no tax or low tax jurisdictions, the Centre had constituted a Multi-Agency Group (MAG) for co-ordinated and speedy investigation. So far, the Multi-Agency Group has submitted seven reports to the government.
( Source : Deccan Chronicle. )
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