Many have rushed to appeal against tax demand, some have promised to pay in instalments, while a few may file a writ before Bombay HC.

“Proceedings have been initiated against the defaulters,” the finance minister told the Rajya Sabha on Tuesday in reply to a question.

The Income Tax Department is in touch with the whistle blower who apparently brought out the names of persons holding undisclosed bank acco...

The list, made public by an international body of journalists, has over 1 lakh HSBC customers & their bank accounts with balances totalling...

Switzerland’s cooperation will act as a shot in the arm for the ongoing investigations and help tax authorities build stronger cases.

SC has ruled that Indian resident beneficiaries shall not be taxed on the income of an offshore discretionary trust as long as the trustees...

A small number of HSBC account holders who had accepted the allegations and agreed to pay tax on undisclosed would be the losers.

The investigation, which has not made much headway in the past five years, is believed to have gathered steam after the assembly elections.

The investigation wing of the tax office went after these account holders, the Centre approached the bank, and HSBC came under media glare.

The government on Wednesday said the Central Board of Direct Taxes had not offered any tax amnesty scheme to Indian account holders of HSBC...

I-T plans to initiate prosecution proceedings against employees of HSBC for allegedly helping Indians stash away illegal wealth.

India has offered amnesty to more than 100 wealthy citizens who evaded taxes by hiding funds in accounts in HSBC Holdings' Swiss unit.

The I-T department is said to be mulling prosecution against the HSBC bank for allegedly being the conduit for Indians in stashing money ab...

More than 100 individuals in Mumbai have received notices from the Income-Tax Department this month for holding undisclosed bank a/c.

The standing committee on finance’s meeting on Friday will ask the government to disclose the names of 700 Swiss HSBC account holders that ...

The Enforcement Directorate will probe unreported foreign bank account holders in LGT Bank and HSBC, whose details were furnished to the In...

HSBC in its letter told its customers that if they have concerns about their US tax reporting, they need to be aware of an IRS voluntary di...