The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 represents one of India’s most comprehensive legislative responses to the persistent challenge of offshore tax evasion and unaccounted foreign wealth. Enacted in the backdrop of growing global financial transparency and international information-sharing frameworks, the Act seeks to deter the concealment of foreign income and assets by imposing stringent taxes, severe penalties, and rigorous criminal consequences. This article examines the conceptual foundations of black money and offshore evasion, tracing the legislative intent and policy rationale that shaped the 2015 Act. It further analyses the scope and applicability of the legislation, highlighting the way it departs from the Income Tax Act, 1961 by adopting a discovery-based taxation model and targeting beneficial ownership in foreign structures.