Union finance minister Pranab Mukherjee said that details of assets and payments received by Indian citizens in several countries have started flowing in and are being investigated.
As India had signed a Double Taxation Avoidance Treaty with Switzerland, information about wealth stashed away in Swiss banks by Indians is expected by the government before the end of the year, The treaty is likely to be ratified by the Swiss by September and information about tax avoidance should be available thereafter.
Information regarding assets and payments received by Indian citizens was now under different stages of processing, he said.
Mukherjee said that besides creating an appropriate legislative framework, the government had started renegotiations with 75 countries to get more information. Negotiations have been completed with 53 countries or jurisdictions, he added.