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Overseas Assets News

02 Oct 2015

Those did not take advantage of black money compliance window will regret: Das

Only 638 declarations for a total overseas wealth totalling Rs 3,770 crore were made during the 90-day compliance window under the Black money (undisclosed foreign income and assets) and Imposition of Tax Act, 2015.

30 Sep 2015

No action under FEMA for disclosures during black money window

Government has clarified that all those declaring overseas assets during the black money compliance window will not face any penalty or prosecution under FEMA and four other laws.

09 Jul 2015

Black money: Declare overseas assets, will be difficult to hide, says govt

Armed with automatic information exchange pact with the US, government Thursday asked persons holding undisclosed offshore assets to declare them before September 30 as it would be difficult to hide unaccounted assets in future.

Overseas Assets

15 May 2015

State-run oil firms keen to snap up overseas assets: Minister

As many overseas oil and gas assets have become low-hanging fruit following the massive crash in crude prices, Oil Minister Dharmendra Pradhan on Friday said the government wants state-run oil companies to buy up assets abroad, particularly in Latin America.

18 Mar 2015

Short window to declare overseas assets under black money law

The Union Cabinet last night approved the Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill, 2015 with a view to put in place a legal framework to unearth black money and illicit assets stashed abroad.

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