Finmin declines to share Swiss bank accounts details of Indians citing confidentiality

Finmin declines to share Swiss bank accounts details of Indians citing confidentiality The Finance Ministry has declined to share Swiss bank accounts details of Indians saying it is covered under "confidentiality provisions" of a tax treaty signed between India and Switzerland. In reply to an RTI query, the ministry also refused to disclose the details of black money received from other foreign countries. "Information exchanged under such tax agreements is covered under confidentiality provisions of respective agreements. Thus, disclosure of tax related information and information sought/obtained from foreign governments is exempted under section 8 (1) (a) and 8 (1) (f) of the Right to Information (RTI) Act," it said in response to the RTI application filed by this PTI journalist. The section 8 (1) (a) bars disclosure of information "which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence". Source : Economics Times For Regular Updates Join : https://t.me/Studycafe Click Here to Buy CA INTER/IPCC Pendrive Classes at Discounted Rate Tags : Income Tax, News