In the largest source of leaked information in history, the secrets and hidden treasures of some of the richest and most powerful people in the world are revealed through Pandora Papers.
What was revealed?
The government has instructed the chairman of the Central Board of Direct Taxes (CBDT) to lead a multi-agency investigation into individuals and companies labeled "Pandora Papers" media investigations that include:
Measures taken after an investigation will be subject to dishonest practices such as the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
The Act is enacted to prevent black money, undisclosed foreign goods or unknown income.
The government has already passed the Black Money and Imposition of Tax Act following the discovery of an undisclosed amount of Rs.20,000 crores in investigations in Panama and Paradise Papers.