logo
Ambani heirs have combined net worth of over ₹7 lakh crore: 360 One Wealth Creators Report

Ambani heirs have combined net worth of over ₹7 lakh crore: 360 One Wealth Creators Report

The Hindua day ago

Akash and Anant Ambani took the top spot as the richest Indians in 360 One Wealth Management firm's first wealth creators list with a combined net worth of ₹7.18 lakh crore, signalling that the next generation in the elite business families is taking over. The company's list, prepared in association with Crisil, is based on publicly available data of promoter shareholding in companies and trusts.
The list, which takes into account individuals with a minimum net worth of ₹5 billion, has 2,013 wealth creators, with a combined net worth of approximately ₹100 lakh crore, which is about a third of the country's GDP.
Reliance, Tata and Adani were the richest groups, contributing nearly a quarter of the total promoter wealth in India.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

I-T Dept's data analysis has nudged taxpayers to declare ₹30,298 crore of foreign assets, income
I-T Dept's data analysis has nudged taxpayers to declare ₹30,298 crore of foreign assets, income

The Hindu

time5 hours ago

  • The Hindu

I-T Dept's data analysis has nudged taxpayers to declare ₹30,298 crore of foreign assets, income

The Income Tax Department's efforts to match data obtained from other countries, including Switzerland, with income tax returns (ITRs) filed in India has resulted in taxpayers reporting additional foreign assets worth ₹29,208 crore and additional foreign income of ₹1,089.88 crore, the government said. In a statement issued on Friday evening, the Ministry of Finance also sought to address some allegations on social media that the black money of Indians stored in Swiss banks had ballooned. 'Some media reports have suggested that money deposited in bank accounts of Indian entities in Switzerland has increased,' the statement noted. 'It is reported that the data pertains to different types of funds, including deposits from enterprises, banks and individuals.' It added that Switzerland has been providing India annual financial information about Indian residents under the Automatic Exchange of Information (AEOI) agreement signed by the two countries. The first such data transmission was in 2019 and has 'continued regularly' since then, 'covering even those accounts suspected of involvement in financial irregularities'. On the basis of such information received from other countries, the Central Board of Direct Taxes (CBDT) undertakes a review of the data and identifies taxpayers whose cases require 'further verification', the statement added. 'For AY 2024-25 (FY 2023-24), CBDT compared the data shared under AEOI with the information about foreign assets and income filed in the ITRs by the taxpayers, for the purpose of verification,' the statement said. 'The analysis covered all jurisdictions, including Switzerland.' Following this, SMSs and emails were sent to various taxpayers whose foreign assets and incomes were not reported in the correct schedules of the ITRs asking them to review their returns. 'As a result, a total of 24,678 taxpayers reviewed their ITRs and 5,483 taxpayers filed their belated return for the A.Y.2024-25, reporting foreign assets valuing to Rs. 29,208 crores and additional income of Rs.1,089.88 crores as foreign income,' the statement said. 'Suitable action under the extant provision of law is under consideration for non-responsive taxpayers,' it added.

Indian deposits in Swiss banks increase threefold in 2024 Media
Indian deposits in Swiss banks increase threefold in 2024 Media

India Gazette

time5 hours ago

  • India Gazette

Indian deposits in Swiss banks increase threefold in 2024 Media

Citizens of India hold about $3.78 billion in the European tax haven Indian deposits in Swiss banks rose threefold year-on-year in 2024, to about $3.78 billion, the PTI news agency reported, citing data from the Swiss National Bank (SNB). The current total in the European tax haven is the highest since 2021, when Indian deposits in Swiss banks reached a 14-year high of $4.13 billion, according to SNB data. Indian politicians have long claimed that Swiss banks hold unaccounted or "black money," believed to be proceeds from corruption. The Swiss authorities, however, have consistently stated that the assets held by Indians in Switzerland should not be automatically assumed to be illegal. Bern has previously committed to cooperating with New Delhi to combat tax evasion and fraud. Switzerland and India signed a joint declaration on the introduction of automatic exchange of information on tax matters in 2016. Under this agreement, Switzerland provides India with detailed financial information on Indian residents who hold accounts with Swiss financial institutions. The exchange, the first of which took place in 2019, is annual. The Swiss authorities have reportedly shared information about hundreds of Indian account holders suspected of financial misconduct, in response to India submitting evidence to support the claims. Switzerland has long been considered a tax haven due to its low taxes and stringent privacy laws. The UK topped the list of Swiss bank deposit owners in 2024, while India was in 48th place, up from 67th at the end of 2023, the PTI report added. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store