February 10, 2011 11:38 AM

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Govt spells out measures in SC to retrieve black money

The Government has spelt out in the Supreme Court host of measures to retrieve black money. The Centre told the apex court that the Black money parked in tax havens abroad will be taxable income under the Direct Taxes Code Bill. It informed the court that it has completed negotiations for the Tax Information’s Exchange Agreement with 10 countries where the money is believed to have been stashed.

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