This is the first time that India has received details from Switzerland under the AEOI framework, which provides for exchange of information on financial accounts that currently active as well as those accounts that were closed during 2018.
The Double Taxation Avoidance Agreement (DTAA) was signed between India and Mauritius in 1982. Under this, any entity could apply for tax residency and pay zero capital gains tax. This became the principal reason why Mauritius emerged as a top channel for investments being routed into India.
The case involved information leaked by whistleblower Herve Falciani, a French citizen who worked for HSBC’s Swiss private bank and in 2008 disclosed details on thousands of clients he suspected were using accounts to evade tax.
Yashovardhan Birla, who is commonly known as Yash Birla, is Chairman of the group whose group firms are into steel products, electrical appliances, health, lifestyle and education, among others.
The 100-day vigil: How a custodial death case ended in a state-ordered cremation
India30 min ago
After 100 days, the body of 26-year-old Dalit man Akash Delison was finally removed from a government hospital and cremated under police protection. His family had demanded justice for his alleged death in police custody and refused to accept the body until all 16 involved officers were arrested. Despite actions taken, their demand for accountability remains unmet.
