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Oct 13, 2025
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Black Money act under review; panel may revisit harsh clauses
The Black Money Act, one of India's sternest laws, is being reviewed.
An internal committee, under a senior Income Tax (I-T) officer, will examine the interplay between the statute and the I-T Act, envisage different scenarios of taxability and their legal implications, points of conflict with I-T regulations, challenges faced in invoking the law, and the handling of the mountain of data received from various countries.
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