https://www.taxtmi.com/news?id=14671 Notification prescribes a declaration process in Form 6 to be filed with a designated Commissioner, requires determination of Fair Market Value for undisclosed foreign assets as the basis for tax and penalty, allows a short revision period after official intimation about existing information, mandates payment of tax and penalty followed by issuance of an acknowledgement in Form 7, and is supplemented by an explanatory circular available on the Income Tax Department website. en-us Sat, 04 Jul 2015 09:58:37 +0530 Sat, 04 Jul 2015 09:58:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14671 Notification prescribes a declaration process in Form 6 to be filed with a designated Commissioner, requires determination of Fair Market Value for undisclosed foreign assets as the basis for tax and penalty, allows a short revision period after official intimation about existing information, mandates payment of tax and penalty followed by issuance of an acknowledgement in Form 7, and is supplemented by an explanatory circular available on the Income Tax Department website. News - Sat, 04 Jul 2015 09:58:37 +0530 https://www.taxtmi.com/news?id=14671