https://www.taxtmi.com/news?id=16915 Investigative and enforcement action against undisclosed foreign income and assets includes enquiries, assessments, penalties and prosecutions based on information such as HSBC Switzerland disclosures. The Black Money Act, 2015 imposes stricter penalties and classifies wilful tax evasion of undisclosed foreign assets as a Scheduled Offence under the PMLA, enabling attachment and confiscation; complementary amendments and measures, including Benami law reform, enhanced international information exchange and IT driven initiatives, further strengthen detection and recovery. en-us Tue, 22 Nov 2016 18:29:41 +0530 Tue, 22 Nov 2016 18:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16915 Investigative and enforcement action against undisclosed foreign income and assets includes enquiries, assessments, penalties and prosecutions based on information such as HSBC Switzerland disclosures. The Black Money Act, 2015 imposes stricter penalties and classifies wilful tax evasion of undisclosed foreign assets as a Scheduled Offence under the PMLA, enabling attachment and confiscation; complementary amendments and measures, including Benami law reform, enhanced international information exchange and IT driven initiatives, further strengthen detection and recovery. News - Tue, 22 Nov 2016 18:29:41 +0530 https://www.taxtmi.com/news?id=16915