Black Money, Benami And Anti Money Laundering Laws.
In the current World economic climate where India is adjudged as the strongest emerging economy, India’s continued commitment towards adoption and implementation of International standard policies on fair value accounting, tax evasion, money laundering, corruption etc., has provided a sense of encouragement and confidence to the investor community at large.
In its crusade against tax evasion, eradicating black money and secondary parallel economy, over the past two years, Indian legislative assembly have taken umpteen number of measures to address the problem head on. Enactment of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act, 2015, popularly known as the Black Money Act, amendments to the Benami Transactions (Prohibition) Amendment Act, 2016, amendments to Prevention of Money Laundering Act, 2002, were some of the initial measures, in the right direction.
Our team of experts is competent in advising and dealing with proceedings initiated under the Undisclosed Foreign Income and Assets (Imposition of Tax) Act, 2015, Prevention of Money Laundering Act, 2002 & Prohibition of Benami Transactions (Prohibition) Amendment Act, 2016.