The findings of the investigation, helmed by the International Consortium of Investigative Journalists (ICIJ) and involving 100 media partners, was published in India by The Indian Express in April 2016. Panama Papers, the Pulitzer-winning investigation that exposed how the rich and powerful parked and moved their money in and out of global tax havens, has led Indian tax authorities to undeclared assets worth over Rs 20,000 crore so far — possibly among the highest for a single batch of cases. Replying to Right To Information (RTI) requests filed by The Indian Express, the Central Board of Direct Taxes (CBDT) said that till June 2021, undeclared assets totalling Rs 20,078 crore have been identified by them in India and abroad following the investigation. The Indian Express was a global partner in Panama Papers, which focused on offshore holdings gleaned from about 11.5 million secret documents obtained from the Panamanian Law firm, Mossack Fonseca. The latest number is a quantum jump from figures released earlier to The Indian Express by CBDT through the RTI route: Rs 1,564 crore in June 2019, and Rs 1,088 crore in April 2018.

Source: Indian Express July 04, 2021 22:41 UTC