https://www.taxtmi.com/news?id=16877 The Black Money Act, 2015 creates specific offences, increased penalties and designates wilful evasion regarding undisclosed foreign income/assets as a Scheduled Offence under the PMLA, enabling attachment and confiscation of proceeds and aiding recovery; this is complemented by amendments to permit domestic attachment of equivalent property, Benami law amendments, expanded information-exchange arrangements, investigative multi-agency structures, and intensified Income Tax Department enforcement including searches, surveys, assessments, penalties, prosecutions and an Income Declaration Scheme. en-us Fri, 18 Nov 2016 18:06:19 +0530 Fri, 18 Nov 2016 18:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16877 The Black Money Act, 2015 creates specific offences, increased penalties and designates wilful evasion regarding undisclosed foreign income/assets as a Scheduled Offence under the PMLA, enabling attachment and confiscation of proceeds and aiding recovery; this is complemented by amendments to permit domestic attachment of equivalent property, Benami law amendments, expanded information-exchange arrangements, investigative multi-agency structures, and intensified Income Tax Department enforcement including searches, surveys, assessments, penalties, prosecutions and an Income Declaration Scheme. News - Fri, 18 Nov 2016 18:06:19 +0530 https://www.taxtmi.com/news?id=16877