Non-payment of income tax may soon become prosecutable under Prevention of Money Laundering Act

The government may prosecute those accused of evading taxes under the Prevention of Money Laundering Act as part of a wide ranging crackdown on black money. Further, non-declaration of foreign bank accounts and assets may also be made a criminal offence, according to people who have been briefed on the thinking within the tax authorities and the finance ministry.



The information in this private circulation is not legal advice and should not be treated as such. The information is taken from public domain and is purely for private and non- commercial purposes. We do not represent that the information is correct, accurate, complete or non- misleading.

This disclaimer will be governed by and construed in accordance with laws of India, and any disputes relating to this disclaimer will be subject to the exclusive jurisdiction of the courts of the Republic of India.

Leave your comment