Undisclosed foreign income and assets: new tax and disclosure regime requires reporting and taxation of overseas holdings. Establishes a statutory regime to identify, prescribe procedures for, and impose tax on undisclosed foreign income and assets, requiring disclosure, enabling assessment and levying tax on overseas holdings, and providing ancillary measures necessary for enforcement. The Act extends to the whole of India and specifies its commencement, with the short-title, extent and commencement provisions governing when the substantive obligations take effect.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Undisclosed foreign income and assets: new tax and disclosure regime requires reporting and taxation of overseas holdings.
Establishes a statutory regime to identify, prescribe procedures for, and impose tax on undisclosed foreign income and assets, requiring disclosure, enabling assessment and levying tax on overseas holdings, and providing ancillary measures necessary for enforcement. The Act extends to the whole of India and specifies its commencement, with the short-title, extent and commencement provisions governing when the substantive obligations take effect.
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