Can Modi govt bring back Black Money?

In a step towards delivering on the BJP’s poll promise of unearthing black money stashed abroad, Modi government has introduced the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015, in Parliament. Piloting the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015, Finance Minister Arun Jaitley said there would be short compliance window for persons having undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty.