The Modi led NDA government had finally executed the mission to unearth the money blocked in the bank accounts of the Swiss bank and had been able to provide a breakthrough to the tax authorites who were not allowed access because of the banking secrecy laws.
This agreement would not only provide access to the tax authorities of the Indian countrymen who spent large amounts of money in Switzerland and can also get the information of the persons who have parked pool of the monetary resources there.
The Government of India is taking all the necessary steps to access the related information from the taxation point of view and also to work whole heartedly on the statement made public from the day the Government had held the office that “Money kept abroad would be brought back into the country.”
Hence, the absolute prohibition and restriction that Swiss had imposed now no longer exists and there would be a total access of the confidential information in a time bound manner or else shall explain the reasons for not providing so and would also confirm the genuineness of the transactions in the bank accounts abroad.
Finally, the MODI Government will act very harsh on these situations by the use of latest methods of the information technology and would give high priority to tackle the money which is totally unaccountable but and evasion of tax.
