Amount of reward, its basis and stages of determination

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..... ination of undisclosed foreign asset/income following completion of assessment proceedings under sub-section (3) or (4) of section 10 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, subject to a ceiling of the Indian ₹ 50,00,000 (Rupees Fifty Lakh or five million) to an informant for the information given at a time in a single Annexure A form when the authority competent is satisfied that assessment made is likely to be sustained in appeal and taxes levied are likely to be recovered. 5.1.2. Interim reward for information of undisclosed income/assets liable under the Income Tax Act, 1961: (i) Interim reward up to 1% of the additional taxes realizable, which is directly attributabl .....

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..... es where information of undisclosed income/assets liable under the Income-tax Act, 1961, is given. 5.3. Final reward: 5.3.1. Final reward for information of undisclosed foreign income/assets liable under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015: (i) The maximum amount of reward payable to an informant who has furnished information about undisclosed foreign income or assets of a person liable to tax in India under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, shall not exceed 10% of the additional taxes levied and realized under the said Act, which are directly attributable to the information furnished by him, subject to a ceiling of Indian ₹ 5,00,00,000 ( .....

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..... der the Benami Transactions Informants Reward Scheme, 2018 as also the Income Tax Informants Reward Scheme, 2018, the total amount of reward under both the schemes taken together shall not exceed ₹ 1,00,00,000 (Rupees one crore or Ten million). 5.3.3. Stages of determination of final reward: The final reward for information of undisclosed foreign income/assets liable under the Black Money (Undisclosed Foreign Income and Assets), 2015 or for information of undisclosed income/assets liable under the Income Tax Act, 1961 shall be processed on realization of additional taxes directly attributable to the information given by the informant. Such processing may be initiated at different stages which may include the following: (a) .....

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