<h1>India Targets Black Money: Rs. 5377 Crore Tax Demands, 164 Prosecutions Under Black Money Act 2015.</h1> The Indian government has taken significant measures against black money in foreign accounts, particularly those linked to HSBC in Switzerland. By March 2016, tax demands of Rs. 5377 crore and penalties of Rs. 1282 crore were imposed, with 164 criminal prosecutions initiated. The Black Money Act of 2015 was enacted to address undisclosed foreign income, enabling attachment and confiscation of assets under the Prevention of Money-laundering Act. Additional steps include forming a Special Investigation Team, engaging in international tax information exchanges, and enhancing legislative frameworks. These efforts aim to combat tax evasion and increase transparency in financial dealings.