Welcome to India, the new tax haven. I read this article (http://economictimes.indiatimes.com/nri-tax/us-taxman-gets-after-wealthy-indian-americans/articleshow/7918848.cms) today.
Apparently an Indian American stashed undisclosed income in the Indian branch of a foreign bank.
And the IRS has asked that bank to list all Indians living in the US who have large balances in their India branches.
Can't believe that India is a place where people are stashing undisclosed money. Usually Indians hide money in banks in Switzerland / Cayman / Mauritius etc.
Hmm.
Can't believe that India is a place where people are stashing undisclosed money. Usually Indians hide money in banks in Switzerland / Cayman / Mauritius etc.
Hmm.
No comments:
Post a Comment