India and Switzerland
signed on Tuesday Nov 22,2016 a pact for automatic exchange of information which
would help authorities access details of Swiss bank accounts held by
Indians, a move which is seen as crucial for the government's fight
against black money.
It will now be possible for India to receive from September, 2019 onwards, financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years, on an automatic basis, a finance ministry statement said.
Sushil Chandra, chairman, Central Board of Direct Taxes(CBDT) signed the joint declaration and Gilles Roduit, deputy chief of mission of the Swiss embassy in India, signed the pact for implementing the automatic exchange of information (AEOI) between the two countries.
It will now be possible for India to receive from September, 2019 onwards, financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years, on an automatic basis, a finance ministry statement said.
Sushil Chandra, chairman, Central Board of Direct Taxes(CBDT) signed the joint declaration and Gilles Roduit, deputy chief of mission of the Swiss embassy in India, signed the pact for implementing the automatic exchange of information (AEOI) between the two countries.
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