This 2027 edition of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Act 22 of 2015, dated 26-5-2015), published by Commercial Law Publishers (India) Pvt. Ltd., provides an updated statutory reference for the taxation of undisclosed foreign income and assets held by taxpayers in India. The edition incorporates the Finance Act, 2026, dated 30-3-2026, with the applicable amendments indicated on the cover.

The book includes the principal Act along with the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015, explanatory notes, clarifications, and relevant extracts from statutory provisions. It is designed to help readers understand the legal framework governing the disclosure, taxation, assessment, and compliance requirements associated with undisclosed foreign income and assets.

The edition covers key areas including:

• Taxation of undisclosed foreign income and assets • Scope and applicability of the Black Money Act, 2015 • Tax compliance obligations relating to foreign assets and income • Assessment and taxation of undisclosed overseas holdings • Penalties and consequences for non-compliance • Provisions relating to foreign financial interests and assets • The Black Money Rules, 2015 • Explanatory notes on relevant statutory provisions • Clarifications concerning tax compliance for undisclosed foreign income and assets • The Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026, as indicated on the cover • Relevant extracts from statutory provisions

This edition is particularly suitable for:

• Chartered accountants and tax consultants • Advocates and legal practitioners handling taxation matters • Tax professionals dealing with international taxation and foreign asset disclosures • Compliance officers and financial advisers • Law students and academicians studying tax law • Taxpayers and professionals requiring a reference on undisclosed foreign income and assets

With the updated statutory text, related Rules, explanatory notes, compliance clarifications, and relevant legislative extracts, this 2027 Bare Act edition provides a convenient reference for studying and applying the Black Money Act, 2015, in the context of foreign income and asset taxation in India.