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Paradise Papers Leak: Tax Dept. Asked to Send Notices to 714 Individuals
December 04, 2017
In one of the major developments regarding the Paradise Papers leak, the income tax department will send notices to 714 individuals for further investigation.
The multi-agency group (MAG), that was set up shortly after the papers’ leak has directed the IT department to send the notices to individuals who were named in leaked documents regarding the suspicious investments.
As per the action plan, immediate proceedings would be launched against the entities under the Black Money and Imposition of Tax Act, 2015 if the information received from foreign jurisdictions reveal undisclosed foreign assets.
