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Swiss bank would reveal the details about properties and assets owned by Indians, reported news agency PTI. As per reports, this would be the first time that the Swiss bank along with the bank account details, would reveal details about real estate properties of Indians.
The details would be shared under the automatic exchange of information pact, which was signed between India and Switzerland. This would be the third set of details given to the Central government of India under the pact.
In the past few years, Swiss bank had shared the details of Indian bank accounts twice. According to reports, more than three million records were submitted by the Swiss bank.
This move is being considered as a key milestone in finding the alleged black money deposited in Swiss bank by Indians.
According to officials, India would get the complete information on flats, apartments and other properties owned by Indians in Switzerland.
Along with this, details about earnings made from such properties to help it look into tax liabilities associated with those assets would also be shared.