Govt working on to retrieve black money

Last Updated on February 9, 2011 6:27 pm by INDIAN AWAAZ

The Centre told the apex court that the Black money parked in tax havens abroad will be taxable income under the Direct Taxes Code Bill. It informed the court that it has completed negotiations for Tax Informations Exchange Agreement (TIEA) with 10 countries where the money is believed to have been stashed.