Income tax officials are looking for wealthy Indians with properties in Switzerland and Portugal

As the government continues to combat black money and ensure transparency, it is increasingly becoming challenging for high net-worth individuals (HNIs) to maintain their wealth discreetly abroad.

After having nailed down investments via cash held at Swiss accounts, the income tax department is now looking at tightening the noose around immovable assets held abroad by high-net-worth individuals (HNIs). According to sources, real estate investments by HNIs outside India are currently under the I-T department’s scanner.

“Income Tax Department,…