{"id":7237,"date":"2015-07-02T14:07:00","date_gmt":"2015-07-02T14:07:00","guid":{"rendered":"http:\/\/localhost\/sccblog\/?p=7237"},"modified":"2015-11-03T11:34:39","modified_gmt":"2015-11-03T06:04:39","slug":"last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/","title":{"rendered":"Last date for disclosure and payment of tax &#038; penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared"},"content":{"rendered":"<p><span lang=\"EN-US\">On 01.07.2015, the Central Government notified 30.09.2015 as the date on or before which a person may make a declaration in respect of an undisclosed asset located outside India under the compliance provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act), which received Presidential assent and became law on 26.05.2015.<\/span><\/p>\n<p><span lang=\"EN-US\">The Central Government also declared 31.12.2015 as the last date by which a person must pay the tax and penalty in respect of the undisclosed foreign assets in order to avoid stringent penalties and prosecution as provided in the said Act.<\/span><\/p>\n<p><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p align=\"right\"><b><span lang=\"EN-US\">-Ministry of Finance<\/span><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 01.07.2015, the Central Government notified 30.09.2015 as the date on or before which a person may make a declaration in respect <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-7237","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Last date for disclosure and payment of tax &amp; penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Last date for disclosure and payment of tax &amp; penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared\" \/>\n<meta property=\"og:description\" content=\"On 01.07.2015, the Central Government notified 30.09.2015 as the date on or before which a person may make a declaration in respect\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-02T14:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-11-03T06:04:39+00:00\" \/>\n<meta name=\"author\" content=\"Sucheta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sucheta\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/\",\"name\":\"Last date for disclosure and payment of tax & penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"datePublished\":\"2015-07-02T14:07:00+00:00\",\"dateModified\":\"2015-11-03T06:04:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/7416b8c43cd3a0a3412cf97fc17b54fa\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Last date for disclosure and payment of tax &#038; penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/7416b8c43cd3a0a3412cf97fc17b54fa\",\"name\":\"Sucheta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/530d4c250404c869212316d6351878b83f86bf27648031b1e6d4857a4bae4b88?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/530d4c250404c869212316d6351878b83f86bf27648031b1e6d4857a4bae4b88?s=96&d=mm&r=g\",\"caption\":\"Sucheta\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/legal_editor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Last date for disclosure and payment of tax & penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/","og_locale":"en_US","og_type":"article","og_title":"Last date for disclosure and payment of tax & penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared","og_description":"On 01.07.2015, the Central Government notified 30.09.2015 as the date on or before which a person may make a declaration in respect","og_url":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2015-07-02T14:07:00+00:00","article_modified_time":"2015-11-03T06:04:39+00:00","author":"Sucheta","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Sucheta"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/","url":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/","name":"Last date for disclosure and payment of tax & penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"datePublished":"2015-07-02T14:07:00+00:00","dateModified":"2015-11-03T06:04:39+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/7416b8c43cd3a0a3412cf97fc17b54fa"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2015\/07\/02\/last-date-for-disclosure-and-payment-of-tax-and-penalty-with-respect-to-undisclosed-foreign-assets-under-the-provisions-of-black-money-act-declared\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Last date for disclosure and payment of tax &#038; penalty with respect to undisclosed foreign assets under the provisions of Black Money Act declared"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/7416b8c43cd3a0a3412cf97fc17b54fa","name":"Sucheta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/530d4c250404c869212316d6351878b83f86bf27648031b1e6d4857a4bae4b88?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/530d4c250404c869212316d6351878b83f86bf27648031b1e6d4857a4bae4b88?s=96&d=mm&r=g","caption":"Sucheta"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/legal_editor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7214,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/05\/29\/black-money-undisclosed-foreign-income-and-assets-and-imposition-of-tax-act-2015\/","url_meta":{"origin":7237,"position":0},"title":"Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015","author":"Sucheta","date":"May 29, 2015","format":false,"excerpt":"The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 received the assent of President on 26.05.2015. The objective of the Act is to make provisions to deal with the problem of the Black money that is undisclosed foreign income and assets, the procedure for dealing\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":100541,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/02\/01\/clarifications-on-taxation-and-investment-regime-for-pradhan-mantri-garib-kalyan-yojana-2016\/","url_meta":{"origin":7237,"position":1},"title":"Clarifications on Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016","author":"Saba","date":"February 1, 2017","format":false,"excerpt":"The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan\u00a0Yojana, 2016 (hereinafter \u2018the Scheme\u2019) provides an opportunity to persons having\u00a0undisclosed income in the form of cash or deposit in an account maintained with a\u00a0specified entity to declare such income and pay tax, surcharge and penalty totaling\u00a0in all to 49.9 per\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48921,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/05\/24\/domestic-income-declaration-scheme-2016\/","url_meta":{"origin":7237,"position":2},"title":"(Domestic) Income Declaration Scheme 2016","author":"Sucheta","date":"May 24, 2016","format":false,"excerpt":"Following the voluntary disclosure window under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Foreign Black Money Law), the Government of India had announced the Income Declaration Scheme, 2016 (Scheme) in the Finance Bill, 2016. The Scheme was announced with the intention of attracting\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/security-investment.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/security-investment.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/security-investment.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/security-investment.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/security-investment.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7301,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/09\/22\/persons-holding-undisclosed-foreign-assets-advised-to-file-their-declarations-well-within-time-limit-under-one-time-compliance-opportunity-which-will-end-on-30th-september-2015\/","url_meta":{"origin":7237,"position":3},"title":"Persons holding undisclosed Foreign Assets advised to file their declarations well within time limit under One-Time Compliance Opportunity which will end on 30th September, 2015","author":"Sucheta","date":"September 22, 2015","format":false,"excerpt":"The Finance Ministry on 21st September 2015 issued a press release advising the persons holding undisclosed foreign assets to file their declarations well within the time limit provided under the compliance window of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. The one-time compliance\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":220928,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/16\/sc-sets-aside-delhi-high-court-stay-on-proceedings-against-gautam-khaitan-under-black-money-act\/","url_meta":{"origin":7237,"position":4},"title":"SC sets aside Delhi High Court stay on proceedings against Gautam Khaitan under Black Money Act","author":"Prachi Bhardwaj","date":"October 16, 2019","format":false,"excerpt":"Supreme Court: Setting aside the Delhi High Court order any staying any action against Gautam Khaitan in a case relating to the \u00a0Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, the 3-judge bench of Arun Mishra, MR Shah and BR Gavai, JJ said that the\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":242196,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/13\/cbdt-launches-e-portal-for-filing-complaints-regarding-tax-evasion-benami-properties-foreign-undisclosed-assets\/","url_meta":{"origin":7237,"position":5},"title":"CBDT launches e-portal for filing complaints regarding tax evasion\/Benami Properties\/Foreign Undisclosed Assets","author":"Bhumika Indulia","date":"January 13, 2021","format":false,"excerpt":"Taking another step towards e-governance and encouraging participation of citizen as stakeholders in curbing tax evasion, the Central Board of Direct Taxes has launched an automated dedicated e-portal on the e-filing website of the Department to receive and process complaints of tax evasion, foreign undisclosed assets as well as complaints\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/7237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=7237"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/7237\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=7237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=7237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=7237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}