India to blacklist tax havens not sharing info

The government is considering blacklisting foreign jurisdictions not sharing information on money parked by Indians in their country, despite a tax information exchange agreement with India. Blacklisted countries would find it difficult to do business with Indian citizens. Besides a higher tax burden, Indian taxpayers dealing with such jurisdictions would be disallowed deductions in respect of expenditure, allowance or payment made to a financial institution in that country. 

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