What is the quantum of interim reward for information on undisclosed foreign income/assets liable under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015?

Informants can earn up to 3% of additional taxes on undisclosed foreign income under Black Money Act, 2015.

Interim rewards for informants providing information on undisclosed foreign income or assets under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015, can be up to 3% of the additional taxes levied, directly attributable to their information. This reward is subject to a maximum of Rs. 50 lakhs and is granted after the statutory determination of undisclosed assets or income, following assessment proceedings. The reward is contingent on the competent authority's satisfaction that the assessment will likely be upheld in appeal and that the taxes levied will be recovered.