Blackmoney: Eight I-T units abroad to be operational soon

The Income Tax officials, having a tenure of three years, will function from the Indian Missions in Washington DC (the US), London (the UK), Berlin (Germany), Paris (France), The Hague (Netherlands), Abu Dhabi (the UAE), Cyprus (Nicosia) and Japan (Tokyo).

The orders for the deputation of an Indian Revenue Service (IRS) officer to Japan were awaited and the same were issued last evening.

The units will be operational very soon as these officers will join in some time at their designated locations, official sources said.

Finance Minister Pranab Mukherjee, during his Budget speech, had made a big allocation for setting up these I-T overseas offices.

While the initial budgetary allocation for these units was Rs 2.41 crore in the last fiscal, it has been raised to Rs 18.20 crore in the current year.

"The officials deputed are adept at handling tax evasion cases and international tax treaties and will also help the department liaise with authorities of these countries in tax cases including various high-profile cases which the I-T is currently investigating," a senior Finance Ministry official said.

The officials at these units will also help investors from abroad understand Indian tax laws and procedures so that they can make informed decisions, the official said. MORE PTI NES