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of <h1>Section 10 of Black Money Act: Process for Assessing Undisclosed Foreign Income and Assets Explained</h1> Section 10 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, outlines the assessment process for undisclosed foreign income and assets. The Assessing Officer can issue notices to individuals requiring the production of accounts, documents, or evidence. The officer may conduct inquiries to gather full information and assess or reassess the undisclosed income and assets. If an individual fails to comply with the notice, the officer can make an assessment based on available material after allowing the individual an opportunity to be heard, determining the payable sum.
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