Will Rs 34 Lakh Crore Of Black Money Be Unearthed From Swiss Bank?
Banking details of Indians with accounts in Switzerland will be available to tax authorities from today. Ending the era of Swiss bank secrecy, the move is seen as a significant step in the government’s fight against black money. The first automatic exchange of financial account information (AEOI) under Common Reporting Standard (CRS) would start from next month.