2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Singapore
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Switzerland
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United States of America
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Brazil
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Detailed explanation-1: -The number of such accounts was similar in 2019. New Delhi/Berne: India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government’s fight against black money allegedly stashed abroad.
Detailed explanation-2: -88 lakh crore as on October 21, 2022, from Rs17. 7 lakh crore on November 4, 2016.
Detailed explanation-3: -Swiss law creates a kind of “bank secrecy” where it’s actually illegal to divulge the identity of their account holders. Unless there’s a significant legal cause, Swiss banks can’t hand over the names of their clients to investigators or foreign governments.
Detailed explanation-4: -In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by the criminals, smugglers, and tax-evaders.