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HindustanTimes Mon,29 Dec 2014

Income tax dept steps up HSBC sleuthing

Debobrat Ghose, Hindustan Times  New Delhi, February 21, 2013
First Published: 22:45 IST(21/2/2013) | Last Updated: 22:46 IST(21/2/2013)

The Income Tax department (I-T) has begun investigating as a multi-organ entity by coordinating with other directorates for faster prosecution of HSBC Geneva account holders.

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The directorate of criminal investigation will now provide information to the I-T investigating wing. "The DCI is also collecting more information like personal details of account holders in this case in addition to the database it already received earlier, so that the department can complete its assessment process by 2014," said a source.

While on one hand the department has sought details from Indian account holders in HSBC Geneva, on the other it is looking into the ways to prosecute them.

"We're cooperating with the government and open to any probe, as HSBC India is not involved," said a senior functionary in HSBC India, requesting anonymity.


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