Cost-effective Black Money Act disclosures in India

Black Money Act disclosures — who files it, when it is due, what late filing costs, and what we charge to prepare it. India (Income Tax Department). Cost-effective Black Money Act disclosures in India with a fixed fee agreed in writing before any work starts. Call the 24-hour helpline on +1 (416) 619-0068, or request a written quote today.

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First we read your documents, then you get the price in writing, and only then does the work begin.

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  • 18,000+ clients served
  • 24-hour helpline: +1 (416) 619-0068
  • Fixed fee agreed before work starts
In 60 words

Black Money Act disclosures is an information return: India's undisclosed foreign income and assets regime, and what it does to a resident who omitted a foreign asset. Indian residents with foreign assets or income that were not disclosed in an Indian return.

Who this applies to

Indian residents with foreign assets or income that were not disclosed in an Indian return.

Here is the part that decides your answer. This regime sits outside the ordinary income tax act, with its own assessment powers and its own penalty and prosecution provisions, and ordinary time limits do not confine it in the way they confine a normal reassessment. That is why the asset schedule is not a formality.

The firm’s founder at his desk in the Delhi office

Black money act disclosures India — priced before we start

A Black Money Act disclosure is priced on how many foreign assets were left out of the Indian return and how far back the omission runs, and on whether the records still exist or have to be reconstructed from foreign banks and registries. The fee is settled in writing before anything is drafted.

Individual tax filing

From $349

fixed, quoted before work starts

A personal filing built from your own documents — employment, investment and rental income across borders, with the treaty position set out.
See the fee schedule

Catch-up & voluntary disclosure

From $349

fixed, quoted before work starts

For a filing history that stopped — the penalty position assessed first, then the years filed in the order that protects it.
See the fee schedule

Foreign asset & information reporting

From $349

fixed, quoted before work starts

The information returns that carry the heaviest penalties — foreign accounts, foreign property, foreign affiliates — prepared from one asset list.
See the fee schedule

Non-resident & departure filings

From $349

fixed, quoted before work starts

Non-resident filings and the two part-year returns a move produces, sequenced so neither country taxes the same income twice.
See the fee schedule

Corporate cross-border filing

From $999

fixed, quoted before work starts

Company filings where income, ownership or operations cross a border, with the related-party disclosures that come with them.
See the fee schedule

Payroll & mobility setup

From $999

fixed, quoted before work starts

What an employer owes when an employee works in another country: the registrations, the withholding and the reporting that follow.
See the fee schedule

Transfer pricing documentation

From $2,500

fixed, quoted before work starts

Local file, master file and benchmarking for groups trading across borders, documented to the standard the authority expects.
See the fee schedule

Estate & trust filing

From $799

fixed, quoted before work starts

Estates and trusts with assets or beneficiaries in more than one country, with both sides prepared together.
See the fee schedule

All published fees on one page — all of it on a single page, so the number you compare is the number you pay.

What the reporting test actually looks at

What decides whether Black Money Act disclosures applies
What the test looks atWhere the figure comes from
The obligationIndia's undisclosed foreign income and assets regime, and what it does to a resident who omitted a foreign asset.
Who it bindsIndian residents with foreign assets or income that were not disclosed in an Indian return.
Jurisdiction and authorityIndia — Income Tax Department
Category of filingInformation return

When it is due

Information returns are generally due with — or on the same timetable as — the return they accompany, so the deadline is the filing deadline of the underlying return unless the rules set a separate date. Where an extension covers the return, confirm whether it also covers this form; several information returns keep their own date. In practice the binding constraint is usually a document that has to arrive from somewhere else, which is why the timetable is mapped backwards from the deadline.

What late or missed filing costs

The penalty on an information return is charged per form and per year, and it does not depend on tax being owed. That is the whole risk profile: a filer with no tax to pay can still accumulate a substantial liability across unfiled years, and the exposure compounds with each additional entity or account that should have been reported. If that exposure has already accumulated, it is a disclosure question rather than a filing question, and the assessment comes first.

What this looks like with numbers

Put numbers against it and the shape of the answer is obvious.

Deduction on the price against tax on the gain

An NRI sells Indian property for ₹23,500,000 with an indexed cost of ₹12,690,000. Assume the buyer must deduct at 17% of the consideration, and assume tax on the gain at 21%.

Deduction on the price against tax on the gain
ItemAmount
Sale consideration₹23,500,000
Cost taken into account₹12,690,000
Gain actually arising₹10,810,000
Deduction on the consideration (assumed 17%)₹3,995,000
Tax on the gain (assumed 21%)₹2,270,100
Cash held back beyond the real tax₹1,724,900

₹1,724,900 more is deducted than the transaction actually owes. A lower-deduction certificate obtained before closing is what releases it at the table; without one it sits with the department until a return recovers it. The interesting question is where your own figures fall relative to that, which is a computation rather than an opinion.

Illustrative figures, not a client engagement: the amounts are chosen to make the mechanism legible, and the rates and thresholds are assumptions stated for the example only. We confirm every one of them against the issuing authority for your own tax year before anything is filed.

How we prepare and file it, and what it costs

You get the number for Black Money Act disclosures up front, as part of one fee for the whole set rather than as a separate charge that appears at the end. See the share buyback and capital reduction tax for comparable engagements.

How we handle it

  1. 1We start with the chronology: dates, countries, and what has already been filed
  2. 2You get the scope and the fee in writing before we touch anything
  3. 3The work is prepared and reviewed by a named person, not a queue
  4. 4Nothing is filed until you have read it
  • Authorisation with each authority, so we see the assessments and slips directly rather than asking you for them.
  • Documents move through one secure portal, and you can meet us in person at any of our offices.
  • A 24-hour helpline, +1 (416) 619-0068, before you commit to anything.

If that describes your position, the next step is a short call — not a form.

Read and approved for the 2025 and 2026 filing seasons by Udit Gupta, Cross-Border Tax Expert, Legal Quotient Consultants. Written as general guidance, not as a recommendation for your situation. Talk it through with us before acting on it.

Double tax agreement India, in practice

The subject here is black Money Act disclosures in India, which is what people mean when they search for double tax agreement India. This page covers who it applies to, the filings it produces, and the fixed fee agreed before work begins.

This regime sits outside the ordinary income tax act, with its own assessment powers and its own penalty and prosecution provisions, and ordinary time limits do not confine it in the way they confine a normal reassessment.

From first contact to filed return

  1. Hand over the paperwork in any state

    Sorting it is our job. Send what exists and we identify what is missing from it.

  2. Priced before a single form is opened

    The fee comes from the documents, agreed in writing, and stays where it was agreed.

  3. One position across every return

    The same facts, filed consistently on each side, so nothing contradicts anything else.

  4. Filed after you have read it

    The completed work reaches you before it reaches an authority.

The difference a dedicated cross-border team makes

Factor Legal Quotient Hourly billing model
Pricing A fixed fee, agreed in writing before work starts Hourly, billed as incurred
Experience 15+ years of cross-border work, 18,000+ clients Varies by file
Both sides of the border Prepared together by one team, so relief is claimed exactly once One country at a time, reconciled later
Who reviews it A named practitioner, published on the page Whoever the queue reaches
Where the work happens Our offices in India, the USA, Canada and the UAE Whichever single office you can travel to

Four terms worth pinning down

FDAP income
Fixed, determinable, annual or periodical US-source income — dividends, interest, rents, royalties — taxed on a gross basis by withholding at source.
Simplified registration
A sales-tax registration route for non-resident digital suppliers that is easier to operate and gives no input tax recovery — the wrong trade for a business with local costs.
Tested party
The entity whose margin is measured in a transfer-pricing analysis, normally the less complex of the two parties to the transaction.
Non-resident
A person outside a country's residence rules, taxable there only on income arising in that country — usually collected by withholding rather than by assessment.
black money act disclosures India: Our analysis

This regime sits outside the ordinary income tax act, with its own assessment powers and its own penalty and prosecution provisions, and ordinary time limits do not confine it in the way they confine a normal reassessment.

Whichever way the facts cut, you keep the same footing: a fee agreed in writing beforehand, a named practitioner reviewing the file, and nothing filed until the work is delivered and approved.

The published fees closest to black money act disclosures India

The other variable is timing: an asset schedule corrected while the file is quiet is a different engagement from one prepared after the department has opened its own enquiry under the undisclosed foreign income and assets regime, where valuations and explanations must be evidenced line by line. Quoted in writing.

Catch-up & voluntary disclosure

$349fixed, before work starts

Covers: For a filing history that stopped — the penalty position assessed first, then the years filed in the order that protects it.

See this fee page

Foreign asset & information reporting

$349fixed, before work starts

Covers: The information returns that carry the heaviest penalties — foreign accounts, foreign property, foreign affiliates — prepared from one asset list.

See this fee page

What working with us on black money act disclosures India looks like

Late and missed years are ordinary work

An unfiled history is not a reason to wait longer. We assess what is still open and what relief the delay attracts before the first return goes in.

18,000+ clients served

Individuals, expats and corporations across India, the USA, Canada and the UAE have filed with us — 15+ years of cross-border work.

We say early if it is not our work

If a file needs something this practice does not do, you hear that at the start rather than after a bill.

The reporting penalties get named early

The heaviest exposure on a cross-border file is usually a disclosure form, not the tax. We identify which ones apply before a deadline turns into a penalty.

Two of the firm’s advisers at the glass desk in the Delhi office

How the engagement runs, phase by phase

Step 1

First conversation

We establish what happened and when, because every position here is anchored to a date

Step 2

Written quote

A written scope and a fixed price, so you know the cost before committing

Step 3

Preparation and sign-off

The filings are prepared, cross-checked against each other, and reviewed by name

Step 4

Submission

You see the result, approve it, and we file it

Two of the firm’s advisers and the team in the open-plan office

A fixed quote first, in writing

  • Step 1: Tell us the dates and we will tell you the position – Arrival, departure, the years in between — the residence question turns on those before anything else.
  • Step 2: Fixed fee, defined scope, in writing – Both agreed before work starts, so the engagement cannot grow into a larger bill.
  • Step 3: Prepared together, not passed between firms – You are not the go-between for two sets of advisers working from two sets of assumptions.
  • Step 4: Reviewed, approved, filed – A named practitioner checks it, you approve it, and then it goes.

Quoted up front, in writing.

Contact Us 24-hour helpline +1 (416) 619-0068

Keep reading, sideways

Browse sideways: the pages below answer the neighbouring questions.

Core services for this situation

IRS voluntary disclosure practice Its own page: IRS voluntary disclosure practice — mechanism, deadlines and published fees.
Canadian selling US property — capital gains on the sale (FIRPTA) Everything on capital gains on sale of US property, at the same depth as this page.
CRA Voluntary Disclosures Program — offshore and unreported income IRS offshore voluntary disclosure program — the guide, the FAQ and the fixed fee.
Amending a filed return — all three countries The full guide to amending a filed return three countries, with the fee fixed before any work starts.
Paying a non-resident for work done in Canada Its own page: paying non-resident for work done in Canada — mechanism, deadlines and published fees.
Corporate emigration from Canada Everything on corporate emigration from Canada, at the same depth as this page.
Returning to Canada after years abroad Returning to Canada after years abroad tax — the guide, the FAQ and the fixed fee.
How to avoid double taxation The full guide to how to avoid double taxation, with the fee fixed before any work starts.
Lost or stolen crypto claims Its own page: lost or stolen crypto claims — mechanism, deadlines and published fees.

Who we help

Franchise owners — your filing calendar Its own page: franchise owners your filing calendar — mechanism, deadlines and published fees.
Nurses working abroad — what you owe in each country Everything on nurses working abroad what you owe in each country, at the same depth as this page.
Tax for architects Architects tax — the guide, the FAQ and the fixed fee.
Tax for civil & structural engineers The full guide to civil & structural engineers tax, with the fee fixed before any work starts.
Civil & structural engineers — relief you're probably missing Its own page: civil & structural engineers relief you're probably missing — mechanism, deadlines and published fees.
Influencers & content creators — your filing calendar Everything on influencers & content creators your filing calendar, at the same depth as this page.
Individuals & families abroad cross-border tax Individuals & families abroad cross border tax — the guide, the FAQ and the fixed fee.
Cross-border truck drivers — your filing calendar The full guide to cross-border truck drivers your filing calendar, with the fee fixed before any work starts.
Tax for podcasters Its own page: podcasters tax — mechanism, deadlines and published fees.

Where our clients live and work

Panama tax for expats — country guide Its own page: panama tax for expats — mechanism, deadlines and published fees.
Singapore tax for expats — country guide Everything on Singapore tax for expats, at the same depth as this page.
Kazakhstan tax for expats — country guide Kazakhstan tax for expats — the guide, the FAQ and the fixed fee.
US–United Kingdom tax corridor The full guide to US United Kingdom tax, with the fee fixed before any work starts.
South Korea tax for expats — country guide Its own page: South Korea tax for expats — mechanism, deadlines and published fees.
United States tax for expats — country guide Everything on United States tax for expats, at the same depth as this page.
New Zealand tax for expats — country guide New Zealand tax for expats — the guide, the FAQ and the fixed fee.
Cyprus tax for expats — country guide The full guide to Cyprus tax for expats, with the fee fixed before any work starts.
Estonia tax for expats — country guide Its own page: Estonia tax for expats — mechanism, deadlines and published fees.

The people on your file

Five named practitioners, each with the part of a cross-border file they carry. Every page on this site says who reviewed it, and the reviewer is one of these people rather than an unnamed team.

Udit Gupta

Udit Gupta

Cross-Border Tax Expert

CA (ICAI), In-Depth Tax Trained

Reviews and signs off the practice's cross-border positions, and carries final responsibility for the treaty analysis on every file that leaves the office.

Abhinav Gupta

Abhinav Gupta

Canada Tax / International Tax

Canada Tax, International Tax, Cross-Border Tax, Transfer Pricing

Canadian returns with foreign income, non-resident filings, and the transfer-pricing documentation that runs alongside intercompany work.

Raghav Gupta

Raghav Gupta

International Tax

International Tax, Transfer Pricing Specialist

Benchmarking, method selection and the local-file and master-file sets that support a group's pricing policy under examination.

Anmol Mittal

Anmol Mittal

Canada and US tax

CPA Canada, CPA USA, CA (ICAI)

Files that have to be right on both sides of the border at once — dual filings, streamlined catch-ups, and the foreign tax credit reconciliation between them.

Vinayak Indolia

Vinayak Indolia

CFO advisory

CPA, CA. Fractional CFO and Senior Advisory Specialist

Groups that need the tax position and the finance function to agree: structure reviews, intercompany policy, and the reporting a board can act on.

Meet the whole team

Files that look like this one

Case study 1

A US Citizen Settled in India, Filing on Both Sides

Residence in India and citizenship in the United States produce two annual returns for one income. The order decides the credit, and the Indian financial year and the US calendar year have to be reconciled before either is prepared.

Read how this one runs
Case study 2

A TFSA That Costs More Than It Saves

Canadian tax-free accounts are not tax-free to a US person, and some of them carry a reporting form of their own. The file is a review of what is held, what each account triggers on the US side, and whether the account is worth keeping once the reporting is priced in.

Read how this one runs
Case study 3

A Certificate Obtained Before the Money Moved

An application for a reduced or nil deduction is made in advance and decided on the computed liability, not on the gross amount. Applying after the payment leaves a refund claim in place of a certificate.

Read how this one runs
Case study 4

Moving Money Out of India and the Certificates It Needs

A remittance out of India needs its tax position certified before the bank will process it. The file establishes the character of the funds, produces the certification, and keeps the position consistent with the returns already filed.

Read how this one runs
Case study 5

The Two-Year Window After Returning to India

Returning residents pass through a transitional status in which foreign income is largely outside the Indian net. The engagement establishes when the window opens and closes, and puts the transactions that benefit inside it.

Read how this one runs
Case study 6

A Distribution From a Trust Set Up Abroad

A distribution can be capital in the trust's country and income here, and the reporting attaches to the beneficiary rather than the trustee. The work is characterising the payment before it is received where possible.

Read how this one runs
Case study 7

Indian Transfer Pricing Certification With a Hard Deadline

An Indian entity with international related-party transactions needs an accountant's report filed by a date of its own, ahead of the return. The work is reconciling the transactions to the books first, because the report is only as defensible as that reconciliation.

Read how this one runs
Case study 8

An Executor Administering Across Two Systems

An executor can be personally liable for what is assessed after a distribution, and the clearance that protects them is obtained rather than assumed. The engagement sequences the filings so the distribution is safe when it happens.

Read how this one runs

All case studies — every published engagement in one place.

Core International & Cross-Border Tax Services

International Tax Planning & Advisory

Strategy and compliance for income, assets and families spread across borders.

One coordinating team: filings on every side of the border are sequenced so treaty relief and foreign tax credits are claimed once — and in the right country.

U.S. & Cross-Border Tax Returns

Dual filers: U.S. citizens in Canada and Canadians with U.S. income run two parallel systems — we prepare both, in the right order, every year.

Expat & Emigration Tax

The move year is its own project: the elections and valuations filed that year decide the next decade of both countries’ returns.

Non-Resident Canadian Tax

Default withholding is 25% of gross: elective returns routinely turn over-withheld rent and pensions into refunds.

Transfer Pricing & BEPS

Documentation prepared with the return is the cheapest insurance in international tax; reconstructing it during an audit is the most expensive.

Cross-Border Estates & Trusts

Wills drafted for one country routinely misfire in the other — deemed disposition here, estate tax there, credits in between.

Cross-Border Corporate Tax

Expansion raises the same four questions every time — entity, PE, repatriation, payroll. We answer them before the tax authorities do.

India Tax for NRIs & Returning Residents

The deduction is taken on the sale price, not the gain — which is why an NRI property sale strands cash unless the certificate is applied for before closing.

Canadian Tax with a Foreign Element

Residency is decided on facts, not on a form — and the year you arrive or leave is the one where the largest amounts turn on the smallest details.

UAE Tax for Expats & Their Home Country

A zero-tax country is only half the answer — the question that decides the bill is whether the country you came from still treats you as resident.

Industries & Client Types We Serve Worldwide

Global E-commerce & Marketplaces
Technology & SaaS
Professional Services Firms
Cross-Border Real Estate
Importers, Exporters & Manufacturers
Athletes, Artists & Entertainers
Remote Workers & Digital Nomads
Investment Funds & Holding Companies

Global E-commerce & Marketplaces

Cross-border tax for sellers shipping worldwide: marketplace withholding, foreign registrations and inventory nexus handled before they become audits.

Marketplaces withhold, remit and report in their own right, so the tax position of a single sale is decided by where the stock sat, where the buyer was and which platform collected — not by where the company is registered. We reconcile the platform's own filings against the returns before either is submitted.

  • Foreign VAT / GST / sales tax registrations
  • Marketplace withholding reviews
  • Inventory nexus & PE analysis
  • Multi-currency books reconciled
Explore E-commerce & Marketplaces

Technology & SaaS

  • Cross-border revenue sourcing & withholding
  • IP structuring with real substance
  • Equity for cross-border teams
  • U.S. expansion: entity & PE setup
Explore Technology & SaaS

Importers, Exporters & Manufacturers

  • Transfer pricing documentation (s.247)
  • Customs value vs transfer price
  • Foreign affiliate reporting (T1134)
  • Country-by-country reporting
Explore Trade & Manufacturing

Athletes, Artists & Entertainers

  • Reg 105 & U.S. CWA agreements
  • Multi-state & country calendars
  • Touring income allocation
  • Royalty & image-rights withholding
Explore Athletes & Entertainers

Remote Workers & Digital Nomads

  • Residency analysis before moving
  • Employer payroll exposure
  • Totalization & social security
  • Foreign tax credits
Explore Remote Workers

Investment Funds & Holding Companies

  • Treaty access & PPT reviews
  • FAPI & surplus computations
  • Withholding-efficient routing
  • Governance & substance
Explore Funds & Holdcos

Black Money Act disclosures — questions we are asked

Do I file Black Money Act disclosures even if no tax is owed?

Information return obligations of this kind are generally required on the facts rather than on the tax result, so a nil position does not remove one. Indian residents with foreign assets or income that were not disclosed in an Indian return.

What happens if I have missed Black Money Act disclosures for several years?

Missed years are dealt with as a package rather than one at a time, because the route chosen for the first year affects the relief available for the rest. We map the years and the obligations before anything is filed.

Is Black Money Act disclosures the same as the other reports I already file?

No. India's undisclosed foreign income and assets regime, and what it does to a resident who omitted a foreign asset. Satisfying a different obligation, even one covering the same accounts or entity, does nothing for this one.

How do I get a refund of TCS collected on a foreign remittance?

You claim it on your Indian return for that year. The collected amount is credited against your total tax, and if it exceeds the tax due the balance is refunded like any excess payment. Two practical conditions: the collector must have filed its statement so the credit appears in your annual tax statement, and your PAN must be correctly recorded on the remittance. A salaried remitter can also ask their employer to account for it against salary withholding. See LRS limits and TCS.

Can an NRI claim back TDS deducted on Indian income?

Yes, by filing an Indian return for the year. Withholding on rent, interest, dividends, professional fees or a property sale is an advance payment, not a final tax, so where the actual liability is lower — because of the treaty, because of the basic exemption, or because the deduction was computed on gross proceeds rather than gain — the excess comes back as a refund. It needs your PAN, a validated Indian bank account and the deductor's statement filed. See Indian filing and credit claims.

Do NRIs pay tax on money sent to India?

Sending your own funds to India is a transfer of capital, not income, so the remittance itself is not taxed. What is taxable is income the money then earns in India — interest, rent, capital gains — under the rules for the account type it sits in. Sending money out of India is the direction that needs certification before the bank will act. See NRE, NRO and FCNR accounts.

Meet us in person at any of our offices

Talk to us about Black Money Act disclosures

Describe what happened and which countries are involved; the fee comes back in writing before anything begins.

  • Your existing accountant keeps the domestic file
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  • 24-hour helpline, +1 (416) 619-0068

Our practitioners are alumni of leading accounting and tax institutions

Where our partners studied — CPA Canada (In-Depth Tax Program), AICPA, the Institute of Chartered Accountants of India and the Malaysian Institute of Accountants.

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