Citation Act No 22 of 2015 Date signed 26 May 2015 | Territorial extent Whole of India Date assented to 26 May 2015 | |
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Date enacted 11 May 2015 (Lok Sabha)13 May 2015 (Rajya Sabha) | ||
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (popularly Black Money Act) is an Act of the Parliament of India. It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income. The Act has been passed by both the Houses of the Parliament. The Act has received the assent of the President of India on 26 May 2015. It came into effect from 1 July 2015.
References
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Wikipedia(Text) CC BY-SA