Rs 565-cr undisclosed income of Indians detected in France

NEW DELHI: An undisclosed income worth Rs 565 crore of Indians has been detected in France, as per the information revealed by the Income Tax authorities.

The move indicates that the Double Taxation Av that oidance Agreement is showing results.

The figure was revealed in the information that India received from France on Indians having bank accounts, under the exchange of information clause of the Double Taxation Avoidance Agreement (DTAA) with the European country.

Under 219 cases, the tax authorities have found undisclosed income totalling Rs 565 crore and taxes amounting to Rs 181 crore have already been realised, as the CBDT told Parliament's Public Accounts Committee (PAC).

On NRI taxation, the CBDT said 30,765 pieces of domestic information about suspicious transactions have been obtained by field intelligence units (FIUs), which are under investigation by respective agencies.