<h1>Indian Government Enforces Stricter Penalties on Undisclosed Foreign Assets Under Black Money Act and PMLA.</h1> The Income-tax Department (ITD) is actively combating black money through various actions, including searches, surveys, and prosecutions. Recognizing the limitations of existing laws, the Indian government enacted the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which imposes stricter penalties and includes tax evasion related to undisclosed foreign assets as a Scheduled Offence under the Prevention of Money-laundering Act. Between 2015 and 2018, the ITD filed numerous prosecution complaints, conducted searches, and detected significant undisclosed income. This information was disclosed by a government official in response to a parliamentary question.