Understanding the Provisions of Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act, 2015 | RAM DUTT SHARMA | Commercial Law Publishers | 2015 Edition

This book provides a comprehensive analysis of the Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act, 2015, which aims to tackle undisclosed foreign income and assets, and impose tax on the same. It covers all key provisions under this legislation and how they impact individuals and entities holding undisclosed foreign assets.

Key Features:

• In-depth Analysis of Provisions: Detailed examination of the provisions of the Black Money Act, including penalties, tax implications, and the procedures involved in disclosure and assessment.
• Foreign Income & Assets: Clear explanation of how foreign income and assets are treated under the law, focusing on the steps for compliance and disclosures required by individuals and entities.
• Imposition of Tax: A thorough discussion on the tax liabilities and penalties imposed on those failing to disclose their undisclosed foreign income and assets.
• Practical Insights: Guidance on how the law applies in real-world scenarios, including steps for legal compliance and the financial reporting of foreign income and assets.
• Finance Act Amendments: Covers relevant updates and amendments under the Finance Act, 2015, in relation to the Black Money Act.

This book is an invaluable resource for tax professionals, legal experts, and individuals seeking to understand the intricacies of the Black Money Act and the taxation of undisclosed foreign income and assets. It helps readers navigate the complexities of the law and ensures that they can comply with the legal provisions effectively.