India signs tax information exchange pacts at G-20

Finance Minister Pranab Mukherjee while returning from Paris on Saturday, said that during G-20, Finance Ministers and heads of central banks at France, India signed Tax Information Exchange Agreements (TIEA) with various countries to avoid tax evasions and fiscal frauds such as money laundering. He informed that India has initiated negotiations with other countries to prevent the black money from being stashed in foreign banks.