<h1>Bill Targets Undisclosed Foreign Income with 30% Tax Rate and Penalties, Offering Compliance Window for Transparency.</h1> The Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015, aims to address tax evasion by targeting undisclosed income and assets held abroad. The bill proposes stringent penalties and a tax rate of 30% on such undisclosed foreign income and assets. It seeks to enhance transparency and accountability, providing a compliance window for individuals to declare previously undisclosed assets. This legislative measure is part of broader efforts to curb black money and improve tax compliance, reinforcing the government's commitment to tackling financial crimes and ensuring fair taxation.