India receives first tranche of Swiss account details

News:India has received the first tranche of details about financial accounts of its residents in Swiss banks under the automatic info exchange framework. Facts: In 2016,India and Switzerland had signed an Automatic exchange of information(AEOI) deal on bank accounts which came into effect from September 2019.  About Automatic exchange of information(AEOI): Automatic exchange of information… Continue reading India receives first tranche of Swiss account details

Explained: India will get Swiss bank details of Indians from today. What does this mean?

Recently,Automatic Exchange of Information (AEOI) Regime between India and Switzerland has started from September 1,2019.  In 2016,India and Switzerland had signed an information-sharing deal on bank accounts which was to come into effect from September 2019.  Automatic exchange of information involves the systematic and periodic transmission of taxpayer information by the source country to the… Continue reading Explained: India will get Swiss bank details of Indians from today. What does this mean?