https://www.taxtmi.com/news?id=14659 A notification implements a limited compliance window under the Black Money Act permitting declarations of undisclosed assets located outside India by 30th September, 2015, with the last date for payment of tax and penalty on such declared assets being 31st December, 2015. The Act establishes separate taxation for undisclosed foreign income and assets and prescribes stringent enforcement measures, including rigorous imprisonment up to ten years and an enhanced penalty determined as a multiple of the tax; detailed features of the compliance window are to be notified separately. en-us Thu, 02 Jul 2015 10:13:20 +0530 Thu, 02 Jul 2015 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14659 A notification implements a limited compliance window under the Black Money Act permitting declarations of undisclosed assets located outside India by 30th September, 2015, with the last date for payment of tax and penalty on such declared assets being 31st December, 2015. The Act establishes separate taxation for undisclosed foreign income and assets and prescribes stringent enforcement measures, including rigorous imprisonment up to ten years and an enhanced penalty determined as a multiple of the tax; detailed features of the compliance window are to be notified separately. News - Thu, 02 Jul 2015 10:13:20 +0530 https://www.taxtmi.com/news?id=14659