The officer designated to receive the declarations worked till midnight on 30th September. The e-filing portal was also open till midnight to receive the declarations. The compliance window closed thereafter. 

Tax at the rate of 30 percent and penalty at the rate of 30 percent is to be paid by 31st December this year. 

The compliance window opened on 1st July and closed on 30th September.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 has been enacted to deal with the menace of black money stashed abroad. The Act also provided for a compliance window for a limited period to persons who have undisclosed foreign assets which they had not disclosed for the purposes of Income-tax so far.