https://www.taxtmi.com/news?id=26242 No statutory definition of black money exists across principal Indian taxation and customs statutes. Enforcement against undisclosed domestic and foreign income and assets is effected through tax administration powers including search and seizure, and through the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 for foreign assets; willful attempts to evade tax in relation to undisclosed foreign assets are predicate offences under the Prevention of Money Laundering Act enabling Directorate of Enforcement measures. Information-exchange instruments and FIU cooperation support cross-border detection, while credible national estimation of black money is considered not feasible. en-us Tue, 14 Feb 2023 09:39:51 +0530 Tue, 14 Feb 2023 09:39:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26242 No statutory definition of black money exists across principal Indian taxation and customs statutes. Enforcement against undisclosed domestic and foreign income and assets is effected through tax administration powers including search and seizure, and through the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 for foreign assets; willful attempts to evade tax in relation to undisclosed foreign assets are predicate offences under the Prevention of Money Laundering Act enabling Directorate of Enforcement measures. Information-exchange instruments and FIU cooperation support cross-border detection, while credible national estimation of black money is considered not feasible. News - Tue, 14 Feb 2023 09:39:51 +0530 https://www.taxtmi.com/news?id=26242