HIGHLIGHT ON NOTIFICATION REGARDING BLACK MONEY

CENTRAL BOARD OF DIRECT TAXATION – INCOME TAX DEPARTMENT NOTIFIES FORM 6 –TO ENABLES ONLINE DECLARATION OF BLACK MONEY OUTSIDE INDIA

Untitled18AThe Online filing of Form 6 under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 has been issued under the menu “e-File” after login. Taxpayers are requested to e-File Form 6 during the compliance window which ends on September 30, 2015.[Refer Notification No. 58/2015 dated 02/07/2015]Form-6 is for Declaration of undisclosed asset located outside India under section 59 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

All Basic Steps for Electronic filing of Form 6 are as under:

  1. Download and Fill Form 6 from Income Tax E-filing Website
  2. Generate xml file of Form 6
  3. Go to and login at https://income tax india e-filing.gov.in/
  4. Under the menu “e-File” select “Upload Form 6 (for undisclosed foreign assets)
  5. Attach xml file of Form 6 and Scanned Documents in pdf

The maximum size of scanned documents should not be more than 50MB

The following scanned documents are required to be attached:

(a) Valuation Report

(b) Separate computation of FMV (if done other than mentioned in Rule 3)

  1. Click on Submit to finish uploading and attaché Digital signature when prompted. DSC is mandatory for all the assesses.
  2. Download/save the acknowledgement as required.

Related Updates:

CBDT Notification 58/2015 Black Money Rules, Valuation and Forms Click Here>>

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