Tuesday 27 December 2011

Tax notices to over 100 Swiss bank account holders in Mumbai

Tax notices to over 100 Swiss bank account holders in Mumbai


M Padmakshan, ET Bureau Dec 21, 2011, 01.47am IST
MUMBAI: More than 100 individuals in Mumbai, including a few corporate biggies, have received notices from the Income-Tax Department this month for holding undisclosed bank accounts with HSBC Geneva.
They are among the 700 Swiss bank account holders whose names figure in the list shared by the French authorities with the Indian government a few months ago. The French had obtained the information from a former HSBC employee.

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