https://www.taxtmi.com/news?id=24270 The Government's legal framework, led by The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, authorises assessments, enhanced penalties and makes willful tax evasion regarding undisclosed foreign assets a scheduled offence under the Prevention of Money Laundering Act; the Income Tax Department has used these powers alongside prosecutions and penalties in cases arising from HSBC disclosures, ICIJ and other information sources. en-us Tue, 27 Jul 2021 09:01:20 +0530 Tue, 27 Jul 2021 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24270 The Government's legal framework, led by The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, authorises assessments, enhanced penalties and makes willful tax evasion regarding undisclosed foreign assets a scheduled offence under the Prevention of Money Laundering Act; the Income Tax Department has used these powers alongside prosecutions and penalties in cases arising from HSBC disclosures, ICIJ and other information sources. News - Tue, 27 Jul 2021 09:01:20 +0530 https://www.taxtmi.com/news?id=24270