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India, Switzerland ink accord for info on Indian account holders

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New Delhi, 22 Nov 2016 : From September 2019, India will start getting information automatically about accounts held by Indians in Swiss banks. An Automatic Exchange of Information (AEOI) accord signed by the two countries on Tuesday facilitates this.

“Fighting the menace of black money stashed in offshore accounts has been a key priority for the present government,” a Finance Ministry release said here.

Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra and Deputy Chief of Mission in the Swiss embassy here Gilles Roduit signed the joint declaration for implementation of Automatic Exchange of Information between the two nations, the statement said.

“It will now be possible for India to receive from September 2019 onwards the financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years on an automatic basis,” it added.

The government’s recent demonetisation of high-value currency notes has provoked calls from opposition parties for the government to act also against black money stashed abroad, particularly in Swiss banks.

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PDP chief Mehbooba Mufti released from detention after 14 months

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Jammu, 13 Oct : Former Jammu and Kashmir chief minister and Peoples Democratic Party (PDP) leader Mehbooba Mufti was on Tuesday released from detention. “PDP chief Mehbooba Mufti is being released from detention,” said Jammu and Kashmir administration spokesperson Rohit Kansal.

A government order issued on Tuesday night said her detention was being revoked with immediate effect.

The Jammu and Kashmir administration in July had extended her detention by three months under the stringent Public Safety Act (PSA).

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Cinemas, theatres, multiplexes to open with up to 50% seating capacity from Oct 15

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Swimming pools for training of sportspersons to open with SOP from Oct 15

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SAD breaks alliance with BJP Leaves NDA in protest against farmers ordinance

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Chandigarh, 26 Sep : The Shiromani Akali Dal (SAD) has severed its alliance with the BJP. The Akali Dal had a 22-year-old alliance with the BJP.

The decision was taken after a meeting of the Akali Dal’s Kaur Committee which lasted for more than four hours today. Mr. Sukhbir Singh Badal addressed the press after the meeting and announced that he would no longer be a part of BJP-NDA.

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