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Cabinet okays Bill to unearth black money
Highlights
In a bid to unearth black money and illicit assets stashed abroad, the Union Cabinet on Tuesday approved a Bill with stringent provisions for prosecution of such offences with rigorous imprisonment of up to 10 years. \"The Cabinet has approved Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill, 2015,\"
New Delhi: In a bid to unearth black money and illicit assets stashed abroad, the Union Cabinet on Tuesday approved a Bill with stringent provisions for prosecution of such offences with rigorous imprisonment of up to 10 years. "The Cabinet has approved Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill, 2015," official sources said on the decision of the Cabinet meeting chaired by Prime Minister Narendra Modi.
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