I-T unearths Rs 1.29 lakh cr foreign remittances

The tax probe has found that a substantial portion of the money moved to a handful of overseas destinations. Singapore, the UAE, Hong Kong, Mauritius and China together accounted for 72.3% of the total remittances. Singapore emerged as the largest destination, receiving Rs 41,885 crore while Rs 18,331 crore was remitted to the UAE and Rs 18,064 crore to Hong Kong.