Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

This 2025 edition of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Act 22 of 2015, dt. 27-5-2015, w.e.f. 1-4-2016) reproduces—word for word—India’s dedicated legislation for taxing and penalising undisclosed foreign assets and income. The volume also contains, in full:

• Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015
• CBDT explanatory notes on the one-time compliance window (Chap. VI) and subsequent clarifications on valuation, exchange-rate conversion and penalty computation
• Relevant statutory extracts cross-referencing the Income-tax Act, 1961 and Prevention of Money-laundering Act, 2002
• Concise short comments follow pivotal provisions—flagging updated limitation periods for assessment (ten-year look-back), interplay with faceless-assessment schemes, and recent CBDT FAQs—while preserving complete Bare-Act integrity for examinations and courtroom citation.

Core statutory coverage

• Charge of tax at flat 30 % plus surcharge for undisclosed foreign income and assets
• One-time compliance window (closed) and continuing voluntary-disclosure mechanics under Sec. 59–72
• Assessment & reassessment powers—authorised officer jurisdiction, extended ten-year window, and best-judgement procedures
• Penalties & prosecution—three-times tax penalty, rigorous imprisonment up to 10 years for willful evasion, and compounding guidelines
• Information-exchange & enforcement—use of foreign-tax-information exchange agreements and inter-agency data-mining
• Appeals & revision—Commissioner (Appeals), ITAT, High Court and Supreme Court paths, with electronic-filing provisions under the 2022 e-Appeals scheme

This edition is particularly suited for

• AIBE candidates and law students studying international-tax and anti-black-money statutes
• Chartered accountants, tax lawyers and compliance officers advising HNIs, corporates and family offices on foreign-asset disclosures
• Assessing officers & investigation units handling cross-border income and FATCA/CRS data-leads
• Policy analysts, journalists and researchers tracking India’s fight against illicit offshore wealth

Presented verbatim yet enriched with pinpoint explanatory notes, this Bare Act guarantees clarity, authenticity and immediate practical insight—indispensable for statutory compliance, professional practice and academic mastery.