https://www.taxtmi.com/news?id=20342 The Income tax Department pursues black money via searches, surveys, assessments, penalties and prosecutions. The Black Money (Undisclosed Foreign Income and Assets) Act, 2015 imposes separate taxation on undisclosed foreign income/assets, strengthens penalties and prosecution, and treats wilful tax evasion concerning such assets as a scheduled offence under the Prevention of Money laundering framework. Yearwise enforcement data for 2015-16 to 2017-18 on prosecutions, search and seizure outcomes and surveys are reported to demonstrate enforcement activity. en-us Tue, 31 Jul 2018 18:28:59 +0530 Tue, 31 Jul 2018 18:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20342 The Income tax Department pursues black money via searches, surveys, assessments, penalties and prosecutions. The Black Money (Undisclosed Foreign Income and Assets) Act, 2015 imposes separate taxation on undisclosed foreign income/assets, strengthens penalties and prosecution, and treats wilful tax evasion concerning such assets as a scheduled offence under the Prevention of Money laundering framework. Yearwise enforcement data for 2015-16 to 2017-18 on prosecutions, search and seizure outcomes and surveys are reported to demonstrate enforcement activity. News - Tue, 31 Jul 2018 18:28:59 +0530 https://www.taxtmi.com/news?id=20342