IT officers in embassies to track black money

Switzerland not in the list of countries where CBDT wants own men posted

GN Bureau | July 6, 2011



The Central Board of Direct Taxes (CBDT) has moved the finance ministry for posting of the senior income tax officers in the Indian embassies in eight foreign countries to monitor the dubious money trail.

It is not satisfied the intelligence sleuths of the Research and Analysis Wings (RAW) performing the job as they work on different wave length and not trained for detecting the black money transfers by the tax evaders.

The CBDT has made out a case that the IT officers posted abroad can use the income tax department's data bank that has been fully networked electronically to quickly ascertain the tax evasion in any money flow by the Indians in the foreign country.

It has already been permitted to post the additional commissioner-rank officers of the income tax department in the tax havens of Mauritius and Singapore and now it has sought such officers also posted in the Indian embassies in the United States, United Kingdom, France, Germany, UAE, Netherlands, Cyprus and Japan.

Switzerland that is in the news all the time for the Indians' black money stashed in its banks' secret accounts, however, does not figure in the list of countries where the CBDT wants own men posted despite the fact that they will be required since the updated Indo-Swiss Double Taxation Avoidance Agreement (DTAA) signed last year now allows the Indian government to call for details of any money deposited by any Indian in the Swiss banks since after the agreement came into force.
 

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