black money act money laundering act compliance
01
Comprehensive & Correct Disclosure (Schedule FA)
Transparency is your best defense. Even if your foreign assets generate zero income, mandatory disclosure is required for all "Resident and Ordinarily Resident" (ROR) taxpayers. We manage the complex "Calendar Year" (Jan-Dec) reporting cycle required by the Indian tax portal.
Asset Categorization: Accurate reporting across Table A1 (Foreign Bank Accounts), Table A3 (Equity/RSUs), and Table B (Immovable Property).
Peak Balance Computation: Calculating the highest balance held during the year using the mandatory SBI TTBR (Telegraphic Transfer Buying Rate).
Beneficial Ownership: Identifying disclosure requirements for assets where you are a “Beneficial Owner” or have “Signing Authority,” even if you aren’t the primary holder.
02
Strategic Documentation Support
Building an audit-proof paper trail. The difference between a "Bona Fide Oversight" and "Willful Evasion" lies in your documentation. We help you collate and verify the evidence required to substantiate your global filings.
Global Statement Reconciliation: Mapping your foreign brokerage and bank statements to the Indian Financial Year (Apr-Mar) for income reporting.
ESOP & RSU Vetting: Ensuring the “Perquisite” value taxed by your employer matches your Form 16 and Schedule FA entries.
TRC & Form 10F Procurement: Assisting you in obtaining Tax Residency Certificates from foreign jurisdictions to validly claim treaty benefits.
03
Avoidance of Heavy Penalties & Prosecution
Mitigating the risks of the Black Money Act. In 2026, the penalties for incorrect or non-disclosure of foreign assets are among the harshest in Indian law. We act as your compliance shield to ensure these triggers are never pulled.
Flat ₹10 Lakh Penalty: Applicable for each year of non-disclosure, even if the asset was acquired from tax-paid income or has a value as low as $1.
30% Tax + 90% Penalty: Undisclosed foreign income is taxed at a flat 30% with an additional penalty of 3x the tax amount, with no deductions or set-offs allowed.
Prosecution Risk: Non-disclosure can lead to rigorous imprisonment for a term of 6 months to 7 years.