April 29, 2016 2:08 PM

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Notice being served on those named in Panama Papers: Jaitley

Finance Minister Arun Jaitley today said the government is taking all necessary steps on the issue of tax evasion and notice is being served on those whose names figure in the Panama Papers leaks.<br/><br/>Informing this in the Lok Sabha, Mr Jaitley, however, said any individual case could not be discussed in the house. He assured that the government is taking action and has already served notice on some named in the Panama Papers leaks on tax evasion and of stashing money overseas.<br/><br/>Replying to questions, Minister of State for Finance Jayant Sinha said the appointment of a Special Investigation Team (SIT) by the National Democratic Alliance (NDA) government in 2014 had helped in the purpose of tracking black money both in the country and outside. Mr Sinha said, SIT is doing a commendable job.<br/><br/>Mr Sinha agreed that there are instances of tax evasion by moneyed people when they show their income as agricultural income.<br/><br/>Mr Sinha said also there has been an increase of tax payers' network to 5.8 crore ever since the NDA government took over.

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