Compliance window for Black Money!
As promised by Finance Minister Govt. is soon expected to notify a small time compliance window (as short as 2 months) for voluntarily disclosing undeclared foreign assets or foreign black money by end of this month or 1st week of July.
Disclosure under window would attract 30% tax & 30% penalty, where as in case of disclosure post window closure penalty would increase to 90%
This is being done to operationalize Black Money(Undisclosed foreign income and assets) and Imposition of Tax Act, 2015.
CSGAURAV +919990694230
[email protected]
https://www.facebook.com/gauravdelhiravpage
Subscribe to CS GAURAV SHARMA by Email
As promised by Finance Minister Govt. is soon expected to notify a small time compliance window (as short as 2 months) for voluntarily disclosing undeclared foreign assets or foreign black money by end of this month or 1st week of July.
Disclosure under window would attract 30% tax & 30% penalty, where as in case of disclosure post window closure penalty would increase to 90%
This is being done to operationalize Black Money(Undisclosed foreign income and assets) and Imposition of Tax Act, 2015.
CSGAURAV +919990694230
[email protected]
https://www.facebook.com/gauravdelhiravpage
Subscribe to CS GAURAV SHARMA by Email
