https://www.taxtmi.com/news?id=16910 The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 establishes enhanced penalties and prosecutions for undisclosed foreign income and assets and designates wilful tax evasion relating to such assets as a Scheduled Offence under the Prevention of Money-laundering framework, enabling attachment and confiscation of proceeds of crime; this statutory reform is complemented by information-exchange measures, treaty renegotiation, IT-driven compliance initiatives, multi-agency investigative structures, and a one-time compliance window that yielded voluntary declarations. en-us Tue, 22 Nov 2016 18:14:04 +0530 Tue, 22 Nov 2016 18:14:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16910 The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 establishes enhanced penalties and prosecutions for undisclosed foreign income and assets and designates wilful tax evasion relating to such assets as a Scheduled Offence under the Prevention of Money-laundering framework, enabling attachment and confiscation of proceeds of crime; this statutory reform is complemented by information-exchange measures, treaty renegotiation, IT-driven compliance initiatives, multi-agency investigative structures, and a one-time compliance window that yielded voluntary declarations. News - Tue, 22 Nov 2016 18:14:04 +0530 https://www.taxtmi.com/news?id=16910