In a crackdown on offshore tax evasion, American authorities have begun a criminal probe into HSBC individual account holders, who may not have disclosed their accounts in India.
Not quoting the permanent account number (PAN) can cost the contractors and sub-contractors dear, as the budget proposal of taxing them at up to 20 percent instead of 1-2 percent comes into effect from Tuesday.
India and Switzerland will soon start negotiations to enlarge the scope of their bilateral double taxation treaty to allow sharing of details of bank accounts of people accused of tax evasion.
Day in Pics: 20th October
Showbiz World - October 20, 2014
Dia Mirza-Sahil Sangha Wedding Pictures