https://www.taxtmi.com/article/detailed?id=6109 The proposals create a new black money law criminalising concealment of foreign assets with severe penalties, mandatory return filing for foreign assets, taxation of undisclosed foreign income at the maximum marginal rate, and liability for entities and financial institutions; concealment is to be a predicate offence under anti money laundering law, supported by electronic reporting, third party reporting and statutory amendments to enable enforcement. en-us Mon, 02 Mar 2015 07:25:25 +0530 Mon, 02 Mar 2015 14:33:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6109 The proposals create a new black money law criminalising concealment of foreign assets with severe penalties, mandatory return filing for foreign assets, taxation of undisclosed foreign income at the maximum marginal rate, and liability for entities and financial institutions; concealment is to be a predicate offence under anti money laundering law, supported by electronic reporting, third party reporting and statutory amendments to enable enforcement. Articles Budget - Tax Proposals Mon, 02 Mar 2015 07:25:25 +0530 https://www.taxtmi.com/article/detailed?id=6109