“undisclosed asset located outside india”

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 · s. 2

(11) "undisclosed asset located outside India" means an asset (including financial interest in any entity) located outside India, held by the assessee in his name or in respect of which he is a beneficial owner, and he has no explanation about the source of investment in such asset or the explanation given by him is in the opinion of the Assessing Officer unsatisfactory;