Press "Enter" to skip to content

Mukesh Ambani family case: I-T department seeks details from seven nations

The income-tax department has sought detailed information from its counterparts in seven countries in connection with an on-going investigation against members of the Mukesh Ambani family under provisions of the Black Money Act, 2015, for what it alleges undisclosed foreign income and assets. The seven countries are the US, the UK, Switzerland, St.

Lucia, Mauritius, Luxembourg and Belgium. The queries, sent last month, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) …

Source: Business Standard