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

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Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Parliament of India
  • An Act to make provisions to deal with the problem of the Black money that is undisclosed foreign income and assets, the procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income and asset held outside India and for matters connected therewith or incidental thereto.
CitationAct No 22 of 2015
Territorial extentWhole of India
Enacted byParliament of India
Enacted11 May 2015 (Lok Sabha)
13 May 2015 (Rajya Sabha)
Assented to26 May 2015
Signed26 May 2015
Commenced1 July 2015
Legislative history
Bill citation84-C of 2015
Introduced20 March 2015
Status: In force
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Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (popularly Black Money Act) is an Act of the Parliament of India. It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income. The Act has been passed by both the Houses of the Parliament. The Act has received the assent of the President of India on 26 May 2015.[1][2] It came into effect from 1 July 2015.

See also

External links

References

  1. ^ "Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015" (PDF). 26 May 2015. Retrieved 29 May 2015.
  2. ^ "Tax Talk: Black money Bill gives a chance to come clean". Financial Express. 19 May 2015. Retrieved 21 May 2015.

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