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

Taxmann’s Law Relating to Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – 4th Edition 2025 provides an in-depth and up-to-date interpretation of India’s law targeting black money and undisclosed foreign assets. As the global crackdown on tax evasion intensifies, this Act has become increasingly relevant for resident taxpayers, financial institutions, compliance consultants, and legal experts.

This edition incorporates all the latest amendments, CBDT notifications, circulars, judicial decisions, and cross-references to Income-tax Act, 1961, Foreign Exchange Management Act (FEMA), and Benami Transactions (Prohibition) Act for seamless understanding. It explains the law’s scope, intent, and enforcement procedures, especially concerning offshore bank accounts, foreign trusts, immovable properties abroad, and income derived from overseas assets.

It is a practical guide to ensure compliance, avoid severe penalties, and understand how to navigate complex disclosure and taxation frameworks applicable to foreign income/assets. This book is crucial in the context of automatic exchange of information (AEOI) and India’s participation in global anti-tax evasion frameworks.

Key Features:

• 🔍 Complete Commentary on the Black Money Act, 2015: Covers charging provisions, procedural requirements, definitions, and implications of the Act in a simplified and organized manner.

• ⚖️ Disclosure Schemes and Voluntary Compliance Window: Detailed guidance on past compliance windows, eligibility criteria, procedural aspects, and repercussions of non-compliance.

• 📋 Penalties, Prosecution & Assessment Procedures: Explanation of strict penalties under BMA, along with assessment timelines, appellate remedies, and compounding options.

• 🌐 Interpretation of 'Undisclosed Foreign Income & Assets': Clarifies key terms with reference to judicial precedents and CBDT clarification for transparency in reporting foreign holdings.

• 🔗 Cross-Referencing with Income Tax Act & FEMA: Highlights interactions with Sections 139(1), 148, 263, 271, 276CC of the Income-tax Act and relevant FEMA rules on remittances and reporting.

• 🧾 Updated as per Finance Act, 2025: Includes the latest changes and clarifications issued till the enactment of Finance Act 2025, ensuring complete compliance with current regulations.

• ⚠️ Litigation & Risk Management Guide: Discusses red flags, audit risks, probable areas of scrutiny by authorities, and tips for risk mitigation for those with offshore links.

• 📑 Practical Tools & Disclosures: Provides sample formats, disclosure templates, penalty calculators, and timelines for filing returns or responding to tax notices.

Why This Book is Essential:

• ✅ Specialized Coverage on a Niche Subject: One of the few books focused exclusively on the Black Money (Undisclosed Foreign Income and Assets) Act, 2015 in practical depth.

• ✅ Helps Ensure Full Compliance: Especially useful for professionals advising HNIs, NRIs returning to India, and companies with overseas interests to avoid litigation and penalties.

• ✅ Invaluable for Tax Planning & Investigation Handling: Helps professionals prepare clients for scrutiny under FATCA, CRS, EOI, and multi-jurisdictional audits.

• ✅ Comprehensive Legal and Procedural Insights: Offers rich insights on scope of taxability, prosecution, evidence requirements, and retrospective application of law.

• ✅ Trusted by Experts: Recommended by legal professionals, Chartered Accountants, investigation officers, and compliance heads dealing with international tax transparency.

Taxmann’s Law Relating to Black Money – 4th Edition 2025 is an indispensable tool to navigate one of the most stringent tax laws in India. It empowers professionals and taxpayers to responsibly manage foreign income/assets while minimizing legal risk.