https://www.taxtmi.com/highlights?id=79816 Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets u/s 132B of Income-tax Act, 1961. Currently, liabilities under Income-tax Act, 1961, Wealth-tax Act, 1957, Expenditure-tax Act, 1987, Gift-tax Act, 1958, and Interest-tax Act, 1974 are recoverable from seized assets. Amendment extends this provision to undisclosed foreign income and assets taxed under Black Money Act, 2015. Effective from October 1, 2024. en-us Sat, 27 Jul 2024 15:52:36 +0530 Sat, 27 Jul 2024 15:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79816 Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets u/s 132B of Income-tax Act, 1961. Currently, liabilities under Income-tax Act, 1961, Wealth-tax Act, 1957, Expenditure-tax Act, 1987, Gift-tax Act, 1958, and Interest-tax Act, 1974 are recoverable from seized assets. Amendment extends this provision to undisclosed foreign income and assets taxed under Black Money Act, 2015. Effective from October 1, 2024. Highlights Bill Sat, 27 Jul 2024 15:52:36 +0530 https://www.taxtmi.com/highlights?id=79816