Black Money Act applicability clarified; stakeholders invited to submit queries and consult explanatory circulars and FAQs for guidance.
The release directs reliance on Explanatory Circular No. 12 and Circular No. 13 (FAQs) for clarification of the Black Money Act's provisions and invites stakeholders to submit further issues or concerns by email so they may be addressed administratively.

Undisclosed foreign assets declaration and payment required with 30% tax and 30% penalty; appeals available.
The notified forms establish procedure for notice of demand, appeals, recovery and voluntary declarations under the Black Money Rules, 2015: Form 1 issues demand with payment timeline and recovery under sections 30-39; Forms 2-4 govern appeals and cross objections with filing, verification and fee requirements; Form 5 issues certificates for tax arrears; Form 6 prescribes detailed declaration and annexure requirements, valuation, and tax/penalty computation (each at 30%); Form 7 acknowledges accepted declarations and confirms payment conditions.