Which Indians have how much money deposited in the Swiss account, the Swiss bank gave the share information along with the name and address

Swiss Accounts Details: Swiss Bank has shared the fourth set of account details with India under the Annual Automatic Exchange of Information (AEOI). Switzerland has shared details of about 34 lakh economic accounts with 101 countries, including India’s name. The Swiss bank has shared the details of which Indians have kept their money in Swiss banks and from where this amount has come.

Recently the Swiss bank gave share information
It is being told that the Swiss bank shared this information with India last month. The details shared are linked to hundreds of financial accounts and there are many names who have multiple accounts. According to the report, the Indian government will be able to use these data and information to investigate acts like tax evasion, money laundering and terror funding.

Switzerland had agreed to AEOI with India
Switzerland had agreed to AEOI with India under the Annual Automatic Exchange of Information. This process took a long time, but under this, till now India has got four sets of names of people deposited in Swiss banks. In order to share this data, the necessary legal framework in India on data protection and privacy was reviewed and after that the details were exchanged.

What is in these details
The information shared by the Swiss bank includes the name, address, country of residence and tax identification number of the bank account holder, along with information related to account balance and capital income has also been shared by the Swiss bank. Switzerland is going to share the next set of Swiss bank information with India in September 2023.

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