Undisclosed Foreign Income and Asset - Indian Laws - General

As per Section 2(12) of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Undisclosed Foreign Income and Asset means- the total amount of undisclosed income of an assessee from a source located outside India and the value of an undisclosed asset located outside India, referred to in section 4, and computed in the manner laid down in section 5;