This book analyses the legal provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act) in a concise and precise manner, without tampering with the intent and spirit of the law.

The Present Publication is the Latest 2023 Edition, authored by Gaurav Jain and Shubham Gupta. The book features discussion on the following topics:

• [Object and Purpose] of the Black Money Act
• [Comprehensive Analysis of the Black Money Act] along with Case Laws, Circulars & Notifications issued by the CBDT
• [Interplay between Black Money Act & Income Tax Act] has been presented in the book
• [Analysis of Black Money Act] including the following:
  • New & Novel Terms in Black Money Act, including
    • Undisclosed Foreign Asset
    • Undisclosed Foreign Income
    • Assessee
    • Beneficial Ownership
  • Provisions of Assessment, Reassessment, Penalties & Prosecution
  • Offences made out in the Black Money Act
  • Amendments & its Purpose bought in the Black Money Act
  • Retrospective/Retroactive Application of the provisions of the Black Money Act and cases that are pending adjudication

The detailed contents of the book are as follows:

• Preliminary
• Basis of Charge
• Tax Management
• Penalties
• Offences and Prosecution
• Tax Compliance for Undisclosed Foreign Income and Assets
• General Provisions
• Miscellaneous Provisions

About the author

Gaurav Jain is a chartered accountant and practising advocate, having more than 20 years of experience in the domain of Direct Tax Litigation and Advisory. He argues matters before different appellate forums, including the ITAT, PMLA, High Court and the Supreme Court.

He specialises in handling tax litigation and advisory of various corporates and HNIs. He has extensive experience handling search matters and matters on the Black Money Law.

He is a senior partner in a law firm based out of Delhi and Gurugram, handling various Civil and Criminal Litigation with specialisation in matters relating to white-collar crimes like SFIO, PMLA, and FEMA. He is a prolific speaker who is invited by various organisations/associations to give lectures in the field of direct tax.

Shubham Gupta is a commerce graduate and practising advocate. He is associated with the tax team of a law firm based out of Delhi and Gurugram. He assists in handling matters on economic laws, including Income Tax and allied laws such as the Companies Act & PMLA. He writes regularly on topics related to the field of direct taxation