After the World’s biggest leak of the Panama Papers, “PM Modi has himself requested that this matter to be investigated, I think it’s healthy step that this kind of exposes are being made,” Finance Minister Arun Jaitley said.
Reacting to Prime Minister Narendra Modi, the government has set up a special multi-agency group to probe and take action in the light of reports that some 500 Indian’s including top filmmaker’s Amitabh Bachchan and his daughter-in-law Aishwarya Rai, businessmen including promoters of DLF and IndiaBulls, many politicians who have stashed money in overseas entities in tax havens.
Finance Ministry stated the group will be appointed comprising officers from the investigative unit of the Central Board of Direct Taxes (CBDT) and its Foreign Tax and Tax Research division, the Financial Intelligence Unit (FIU) and the Reserve Bank of India (RBI), will monitor the flow of information in each case.
Over 11 million documents of Mossack Fonseca reveals elites tax havens, Panama based law firm have been leaked. The document called ‘Panama Papers’ reveals worldwide network of overseas companies helping the rich to hide their assets.
