WHILE answering a question in the Lok Sabha today, the Minister of State for Finance, Mr S S Palanimanickam, said that the Government has been receiving a number of representations from public, demanding disclosure of the names of black money depositors in banks located abroad.

Since the information received from the Foreign Governments is covered by the confidentiality provisions of Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs), the Indian government cannot disclose such information contrary to the provisions of respective Agreements. Further, the money deposited by Indian entities in foreign bank accounts in respect of which some information may be available, can be said as undisclosed asset/income and consequently these entities can be called as black money depositors only after the conclusion of investigation and due process of law including assessments.