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Detection of black money by Government

News and Press Release - Dated:- 20-7-2016 - Recognizing various limitations under the existing legislation [Income-tax Act, 1961, etc.], the Government enacted a new law - The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 - to specifically and effectively tackle the issue of black money stashed away abroad. This has, inter alia, provided for more stringent provisions of penalties and prosecutions in respect of black money stashed away abroad. Further, under .....

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