Finance Ministry sets up another panel on black money

Facing flak from civil society for not doing enough to deal with the menace of black money, the government on Wednesday announced the setting up of another panel to suggest ways to trace tax defaulters, reveal their identity to the public and recover taxes.The committee, set up by Central Board of Direct Taxes (CBDT) in the Finance Ministry, will also look into the possibility of putting the list of “chronic defaulters” in public domain.

A Swiss window to black money the UPA won't look into

The UPA government may have gone into overdrive on the black money issue but it has so far failed to use a Swiss tax provision that will allow India to not just estimate how much money its citizens have illegally stashed away in bank accounts in Switzerland but to also earn revenue from them.