April 27, 2016
The income-tax department is likely to summon all those Indians whose names appeared in the Panama Papers and seek sworn declarations on whether they held any undisclosed offshore accounts, and the purpose if that is the case, said people dealing with the matter.
Names of about 500 Indians, including top industrialists and Bollywood actors, featured in the millions of documents leaked from Mossack Fonseca, the Panama law firm that is at the centre of a massive global controversy for allegedly helping wealthy and powerful people in making shady and secret investments. The move to summon the Indians comes two weeks after the tax department sent notices to about 50 of them.