Tax authorities unearth $12.3 bln unaccounted money

NEW DELHI |
Wed Dec 14, 2011 5:44pm IST

NEW DELHI (Reuters) – Tax authorities have unearthed 660 billion rupees of unaccounted money, the finance minister told the parliament on Wednesday, as part of the government’s efforts to curb tax evasion.

Pranab Mukherjee was replying to a debate on illicit funds or black money in the Lok Sabha.

Mukherjee also said the government had signed agreements with 60 countries to share information about tax evasion and was in the process of signing agreements with 15 more nations.

(Reporting by Manoj Kumar; editing by Malini Menon)

Article source: http://feeds.reuters.com/~r/reuters/INtopNews/~3/Xs0F0y1lWTA/india-illicit-funds-idINDEE7BD0BC20111214

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