Fighting the menace of Black Money stashed in offshore accounts has been a key priority area for this Government.
To further strengthen this goal, Chairman CBDT, Sushil Chandra on behalf of India and Deputy Chief of Mission of Swiss Embassy in India, Gilles Roduit on behalf of Switzerland signed the 'Joint Declaration' for the implementation of Automatic Exchange of Information (AEOI) between India and Switzerland on Tuesday.
The signing of the joint declaration will enable India to receive the financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years, on an automatic basis.
As per the declaration, the information can be recovered from September,
2019 onwards.
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