An RTI reply has exposed the claims made by the Centre’s Narendra Modi government on dealing with the black money.
When asked to provide information on a number of FIRs filed against the black money hoarders by the newly formed Multi Agency Group, Union Finance Ministry headed by Arun Jaitley said that not a single FIR had been filed till date.
Justifying the zero FIR against the black money hoarders, the finance ministry said that there was no provision to register an FIR under the law.
The RTI reply said,, “The mandate of Multi Agency Group is to facilitate co-ordinated and speedy investigations into Panama Paper Leaks. The investigations are conducted by the specific agencies. As per the Income Tax Act, 1961 and Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 there is no provision of registering FIR.”
The Multi Agency Group was formed in April last year to investigate the legality of money stashed in offshore entities by Indians named in the Panama Papers leak. On 6 November, the Central Board of Direct Taxes said that the MAG will monitor the probe and take “swift action” on the ‘Paradise Papers’ on financial holdings abroad that list a number of Indian entities.