Law Relating to Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015

Year: 2025

About the Book:
This authoritative commentary on the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 offers a comprehensive, clause-by-clause analysis of India’s legislative framework to combat undisclosed foreign income and assets. Thoroughly revised as per the Finance Act 2025, the book provides deep insights into chargeability, assessment, penalties, prosecution, valuation, and appellate procedures.

A vital resource for tax professionals, lawyers, compliance officers, finance executives, HNWIs, and academicians, this book balances legal commentary with practical analysis. It presents complex compliance and litigation scenarios through illustrations, real-world examples, and a robust section-wise breakdown.

Key Features:

• Incorporates all amendments introduced by the Finance Act 2025

• Covers valuation rules, assessment & reassessment, penalties, prosecution, and appeals

• Section-wise commentary supported by relevant rules, forms, and circulars

• Includes case studies and litigation-oriented scenarios

• Highlights compliance procedures, disclosure obligations, and reporting risks for resident Indians with foreign assets

Contents Include:

• Legislative background and rationale behind the Black Money Act

• Scope, chargeability, and key definitions

• Procedures for assessment and reassessment under Sections 10–14

• Recovery mechanisms, garnishee notices, and cross-border recovery (Sections 30–40)

• Penalties and prosecution (Sections 41–58) with discussion on abetment, mens rea, and procedural defenses

• Valuation of foreign assets: Fair Market Value, disclosure formats, and compliance norms

• Multi-tier appellate structure and condonation of delay (Sections 15–29)

• Appendices include Forms 1–8, CBDT Circulars, Notifications, and extracts from relevant laws (CPC, IPC, Companies Act, etc.)

Ideal For:

• Chartered Accountants & Tax Consultants

• Corporate Legal & Compliance Teams

• Practicing Advocates in Direct Tax and International Taxation

• Government Officers & Tax Enforcement Agencies

• Researchers and Students of Tax Law

Tags:
#blackmoney #foreignassets #undisclosedincome #bmact2015 #FinanceAct2025 #RajAgarwal #Taxmann #internationaltaxation #incometaxlaw #compliance #valuationrules #directtax

Caveat Legalis: Description based on available details—interpret with due diligence.