{"id":96203,"date":"2023-03-20T18:25:00","date_gmt":"2023-03-20T12:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=96203"},"modified":"2023-03-20T18:19:56","modified_gmt":"2023-03-20T12:49:56","slug":"lsq-blackmoney","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/","title":{"rendered":"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3529561743\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2712275746\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary informed that 183 assessment orders were passed in 2021-22 and a demand of Rs 5,350 crore was raised under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.<\/p><p>In the four fiscals starting 2018-19, a total of 349 assessment orders were passed and a demand totalling Rs 13,566 was raised.<\/p><p>The minister also informed that 648 disclosures involving undisclosed foreign assets worth Rs 4,164 crore were made during three months of a one-time compliance window, which closed on September 30, 2015, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.<\/p><div class=\"trade-content_5\" id=\"trade-2654440993\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The amount collected by way of tax and penalty in such cases was about Rs 2,476 crore.<\/p><p>Chaudhary further said whenever any instance of unaccounted\/black money comes to its notice, the income tax department takes appropriate actions as per the provisions of the Income- tax Act, 1961.<\/p><p>Such actions include conducting searches and surveys, assessment of income, levy of tax, imposition of penalty, and launching of prosecution, among others. PTI NKD HVA<\/p><div class=\"trade-after-content\" id=\"trade-2916305128\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":14273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-96203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance\" \/>\n<meta property=\"og:description\" content=\"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T12:55:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/\",\"url\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/\",\"name\":\"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg\",\"datePublished\":\"2023-03-20T12:55:00+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\"},\"description\":\"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.\",\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage\",\"url\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg\",\"contentUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg\",\"width\":1280,\"height\":854,\"caption\":\"income tax itr\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\",\"name\":\"PTI News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"caption\":\"PTI News\"},\"url\":\"https:\/\/tradebrains.in\/features\/author\/ptinews\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance - Trade Brains Features","description":"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.","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:\/\/tradebrains.in\/features\/lsq-blackmoney\/","og_locale":"en_US","og_type":"article","og_title":"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance","og_description":"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.","og_url":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2023-03-20T12:55:00+00:00","og_image":[{"width":1280,"height":854,"url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg","type":"image\/jpeg"}],"author":"PTI News","twitter_card":"summary_large_image","twitter_image":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"PTI News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/","url":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/","name":"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"primaryImageOfPage":{"@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage"},"image":{"@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage"},"thumbnailUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg","datePublished":"2023-03-20T12:55:00+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3"},"description":"The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday.","breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/lsq-blackmoney\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#primaryimage","url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg","contentUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/income-tax-itr.jpg","width":1280,"height":854,"caption":"income tax itr"},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/lsq-blackmoney\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"Tax demands of Rs 13,566 crore raised in four fiscals under black money law: MoS Finance"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3","name":"PTI News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","caption":"PTI News"},"url":"https:\/\/tradebrains.in\/features\/author\/ptinews\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/96203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=96203"}],"version-history":[{"count":1,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/96203\/revisions"}],"predecessor-version":[{"id":96240,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/96203\/revisions\/96240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media\/14273"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=96203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=96203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=96203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}