Govt offers amnesty to 100 Swiss HSBC account holders
India has offered amnesty to more than 100 wealthy citizens who evaded taxes by hiding funds in accounts in HSBC Holdings' Swiss unit, according to a government official with knowledge of the matter. The I-T department has agreed not to start criminal proceedings or levy a penalty if the Indians repatriate the money from Geneva and pay the taxes, the official said, asking not to be identified because the information is confidential.
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