New Delhi, Dec 7 : The government has detected total undisclosed credits amounting to Rs 20,353 crore with respect to over 900 India-linked entities in the Panama and Paradise Paper leaks, the Parliament was told on Tuesday.
Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha, in a written reply, that as on October 1, 2021, total undisclosed credits amounting to Rs 20,353 crore have been detected with respect to 930 India linked entities in the Panama and Paradise Paper Leaks.
Giving more details, he said that in 52 cases of Panama and Paradise Paper Leaks, criminal prosecution complaints have been filed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
Further, in 130 cases, proceedings under the act have been initiated.
Besides, Chaudhury informed the Rajya Sabha that taxes collected so far in this connection amount to Rs 153.88 crore.
Furthermore, names of some Indians, allegedly linked to the Pandora Papers Leak, have been released in the media and the Centre has taken cognisance of the same.
The Centre has constituted a Multi Agency Group (MAG) under the convenorship of Chairman, CBDT, with Directorate of Enforcement (ED), Reserve Bank of India (RBI), Financial Intelligence Unit India (FIU-IND) and Foreign Tax and Tax Research division of the CBDT as its members agencies.
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