Business/Economy

Income Tax Dept. probing aggressively on Panama Papers, Big B and alike under scan

Income Tax Dept. probing aggressively on Panama Papers, Big B and alike under scan

Including Bollywood superstar Amitabh Bachchan, the income tax department is violently chasing names that appeared in the Panama Papers, and has send off a top-level officer to the British Virgin Islands to access information, said a senior official.


Considered to be amongst several tax havens, the British Virgin Islands is in the Caribbean region. Income tax department has propelled 33 prosecutions related to the names revealed in the Panama Papers and is investigating others.


As per an official, "There is no let-up in probes. The tax department is aggressively looking for information from other nations.” There has been criticism that tax authorities in India are dragging their feet, after Pakistan PM Nawaz Sharif was removed by the nation's apex court in connection with the Panama Papers case.


When queried whether evidence associated to the allegations against Big B was being chased, the official said, "Amitabh Bachchan has said he does not own any of the companies named in the documents. So the department can't launch an investigation. We first have to seek out information."