Some in French list of having funds abroad pay Rs 135 cr in tax

NEW DELHI: The government on Friday said some of the persons named in the French list of people having funds abroad given to India have voluntarily paid about Rs 135 crore in taxes.

"Although the tax has not been assessed or raised yet, some persons have voluntarily paid taxes amounting to about Rs 135 crore so far," Minister of State for Finance S S Palanimanickam said in a written reply in Lok Sabha.

He added that the Income Tax Department has received information from the French government under the Double Taxation Avoidance Agreement (DTAA) regarding accounts in HSBC Bank.

"Whenever such information is received, it is investigated and only thereafter the untaxed amounts are assessed and brought to taxation. The stage of assessment has not arrived in these cases. It is clarified that mere holding of an account outside India does not lead to the conclusion that the amount is evaded," he said.