Last Updated: Sunday, May 31, 2015, 10:58
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 provides for a minimum penalty of Rs 50,000.
Last Updated: Sunday, March 22, 2015, 12:15
Indians having undisclosed property abroad will have to pay tax and penalty on the basis of the current market value of the asset, and not at the purchase price, as per the new black money bill.
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