Black Money Law - Threadbare Analysis & Case Studies! - Taxsutra Reservoir

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Black Money Law - Threadbare Analysis & Case Studies!

Black Money Law - Threadbare Analysis & Case Studies!

by Taxsutra
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Course Expiry: 1 Month
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Episode Duration:
75 minutes.

Episode Background:

Recently, there has been a lot of administrative action in the field of offshore assets and related action initiated under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA). As per recent press reports, more than 400 notices have been issued under the BMA and there have been recoveries of crores of rupees as well as several hundred prosecution cases filed (under the BMA as well as Income Tax Act, 1961 (IT Act)) in offshore assets matters. This law is likely to be one of the key focus areas for the administrative authorities for augmenting tax collections.

What will the episode cover?

Taxsutra in association with premier law firm Vaish Associates has unveiled a special episode on Black Money Law. Advocate Kavita Jha [Partner, Vaish Associates] has threadbare analysed the structure, scope & key features of the BMA. Ms. Jha has also touched upon 10+ practical scenarios while dealing with Black money cases, few of which are outlined below:

  1. Retrospectivitity of Black Money Law - Gautam Khaitan case
  2. Scope of assessee under Black Money Act - Dual resident cases? Non-residents covered, POEM cases?
  3. Interplay with other Laws I.e. Income-tax Act, PMLA, FEMA  & Benami Law
  4. BMA trigger on black money parked abroad (say in 1990s) and the assessee wishes to bring back the same to India
  5. Mere non-disclosure of foreign bank account in the return of income and BMA trigger
  6. Powers of AO to issue notice under BMA - Is it necessary that information must come from a credible /reliable and legal source?
  7. BMA implication for merely being named as a beneficiary in an offshore discretionary trust 
  8. Accumulated bank balance in offshore bank account and Black Money trigger
  9. Attachment of property, Prosecution under Black money charges
  10. Presumption as to culpable mental state - Onus on whom? 

The episode has also contains a brief conversation with legal eagle Sr. Adv. Arvind Datar, who has shared his experiences while dealing with the Black money cases.

Categories: e-Learning, Economic Offence Laws, Legal Battlefield
Publisher: Taxsutra
About Publisher:

Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.

Taxsutra suite of portals : 

1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law 
6.  Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)

Author: Taxsutra

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Ratings and Reviews

Overall Rating
Review
About Course:

Episode Duration:
75 minutes.

Episode Background:

Recently, there has been a lot of administrative action in the field of offshore assets and related action initiated under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA). As per recent press reports, more than 400 notices have been issued under the BMA and there have been recoveries of crores of rupees as well as several hundred prosecution cases filed (under the BMA as well as Income Tax Act, 1961 (IT Act)) in offshore assets matters. This law is likely to be one of the key focus areas for the administrative authorities for augmenting tax collections.

What will the episode cover?

Taxsutra in association with premier law firm Vaish Associates has unveiled a special episode on Black Money Law. Advocate Kavita Jha [Partner, Vaish Associates] has threadbare analysed the structure, scope & key features of the BMA. Ms. Jha has also touched upon 10+ practical scenarios while dealing with Black money cases, few of which are outlined below:

  1. Retrospectivitity of Black Money Law - Gautam Khaitan case
  2. Scope of assessee under Black Money Act - Dual resident cases? Non-residents covered, POEM cases?
  3. Interplay with other Laws I.e. Income-tax Act, PMLA, FEMA  & Benami Law
  4. BMA trigger on black money parked abroad (say in 1990s) and the assessee wishes to bring back the same to India
  5. Mere non-disclosure of foreign bank account in the return of income and BMA trigger
  6. Powers of AO to issue notice under BMA - Is it necessary that information must come from a credible /reliable and legal source?
  7. BMA implication for merely being named as a beneficiary in an offshore discretionary trust 
  8. Accumulated bank balance in offshore bank account and Black Money trigger
  9. Attachment of property, Prosecution under Black money charges
  10. Presumption as to culpable mental state - Onus on whom? 

The episode has also contains a brief conversation with legal eagle Sr. Adv. Arvind Datar, who has shared his experiences while dealing with the Black money cases.

Categories: e-Learning, Economic Offence Laws, Legal Battlefield
Publisher: Taxsutra
About Publisher:

Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.

Taxsutra suite of portals : 

1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law 
6.  Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)

Author: Taxsutra

Similar Books

Ratings and Reviews

Overall Rating
Review
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