Income tax department to target senior executives who have US bank accounts

NEW DELHI: Tax authorities have begun acting on information that the US is sharing with India under that country’s Foreign Account Tax Compliance Act (Fatca), sending enquiry notices to individuals with bank accounts in the US and potentially opening them up to prosecution on charges of concealing black money overseas.

Those getting such letters include

FULL ARTICLE https://economictimes.indiatimes.com/news/economy/policy/income-tax-department-to-target-senior-executives-who-have-us-bank-accounts/articleshow/61954812.cms

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