Government sends notices related to Swiss black money trail

PTI   

The Hindu Finance Minister Pranab Mukherjee addresses the media on the issue of black money, in New Delhi

Finance Minister Pranab Mukherjee today said the government has served notices to 17 persons related to the Swiss Banks black money trail, but it is not possible to reveal their names.

“We have received a few names and already served notices on 17 persons and prosecution has begun,” he said.

He said the government cannot reveal the names of account holders who have stashed their money away in Swiss banks as the information can only be used for taxation purposes.

“The government, suo motu, cannot reveal the names because according to treaty we can only use the information for taxation purposes. We can only reveal the details in the open court when the matter comes up for hearing,” Mr. Mukherjee said.