With 500 Indians being named in leaked ‘Panama Papers’ for alleged offshore holdings, government today formed a multi-agency group to monitor exposes in this regard and vowed to take action against all “unlawful” accounts held abroad.Finance Minister Arun Jaitley told reporters that Prime Minister Narendra Modi discussed the issue with him this morning and on his advise the group has been set up comprising agencies like CBDT, RBI and FIU (Financial Intelligence Unit).
The Special Investigation Team (SIT) on black money also said it will investigate thoroughly the reported secret list exposed by the International Consortium of Investigative Journalists (ICIJ).
“The multi-agency group will comprise various government agencies — the CBDT, FIU, FT&TR (Foreign Tax and Tax Research) and RBI. They will continuously monitor these (accounts) and whichever accounts are found to be unlawful, strict action as per existing laws will be taken,” Jaitley said.
@ Agency report.
