Indian Kanoon > Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Preamble: An Act to make provisions to deal with the problem of the Black money that is undisclosed foreign income and assets, the procedure for dealing with such income and assets and to provide for the imposition of tax on any undisclosed foreign income and asset held outside India and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Sixty-sixth Year of the Republic of India as follows:

Section	Title
Section-	Preamble Chapter 1
Section- 1	Section-1 Short title, extent and commencement Chapter 1
Section- 2	Section-2 Definitions Chapter 1
Section- 3	Section-3 Charge of tax Chapter 1
Section- 4	Section-4 Scope of total undisclosed foreign income and asset Chapter 1
Section- 5	Section-5 Computation of total undisclosed foreign income and asset Chapter 1
Section- 6	Section-6 Tax Authorities Chapter 1
Section- 7	Section-7 Change of incumbent Chapter 1
Section- 8	Section-8 Powers regarding discovery and production of evidence Chapter 1
Section- 9	Section-9 Proceedings before tax authorities to be judicial proceedings Chapter 1
Section- 10	Section-10 Assessment Chapter 1
Section- 11	Section-11 Time limit for completion of assessment and reassessment Chapter 1
Section- 12	Section-12 Rectification of mistake Chapter 1
Section- 13	Section-13 Notice of demand Chapter 1
Section- 14	Section-14 Direct assessment or recovery not barred Chapter 1
Section- 15	Section-15 Appeals to the Commissioner (Appeals) Chapter 1
Section- 16	Section-16 Procedure to be followed in appeal Chapter 1
Section- 17	Section-17 Powers of Commissioner (Appeals) Chapter 1
Section- 18	Section-18 Appeals to Appellate Tribunal Chapter 1
Section- 19	Section-19 Appeal to High Court Chapter 1
Section- 20	Section-20 Case before High Court to be heard by not less than two Judges Chapter 1
Section- 21	Section-21 Appeal to Supreme Court Chapter 1
Section- 22	Section-22 Hearing before Supreme Court Chapter 1
Section- 23	Section-23 Revision of orders prejudicial to revenue Chapter 1
Section- 24	Section-24 Revision of other orders Chapter 1
Section- 25	Section-25 Tax to be paid pending appeal Chapter 1
Section- 26	Section-26 Execution of order for costs awarded by Supreme Court Chapter 1
Section- 27	Section-27 Amendment of assessment on appeal Chapter 1
Section- 28	Section-28 Exclusion of time taken for obtaining copy Chapter 1
Section- 29	Section-29 Filing of appeal by tax authority Chapter 1
Section- 30	Section-30 Recovery of tax dues by Assessing Officer Chapter 1
Section- 31	Section-31 Recovery of tax dues by Tax Recovery Officer Chapter 1
Section- 32	Section-32 Modes of recovery of tax dues Chapter 1
Section- 33	Section-33 Tax Recovery Officer by whom recovery of tax dues is to be affected Chapter 1
Section- 34	Section-34 Recovery of tax dues in case of a company in liquidation Chapter 1
Section- 35	Section-35 Liability of manager of a company Chapter 1
Section- 36	Section-36 Joint and several liability of participants Chapter 1
Section- 37	Section-37 Recovery through State Government Chapter 1
Section- 38	Section-38 Recovery of tax dues in pursuance of agreements with foreign countries or specified territory Chapter 1
Section- 39	Section-39 Recovery by suit or under other law not affected Chapter 1
Section- 40	Section-40 Interest for default in furnishing return and payment or deferment of advance tax Chapter 1
Section- 41	Section-41 Penalty in relation to undisclosed foreign income and asset Chapter 1
Section- 42	Section-42 Penalty for failure to furnish return in relation to foreign income and asset Chapter 1
Section- 43	Section-43 Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India Chapter 1
Section- 44	Section-44 Penalty for default in payment of tax arrears Chapter 1
Section- 45	Section-45 Penalty for other defaults Chapter 1
Section- 46	Section-46 Procedure Chapter 1
Section- 47	Section-47 Bar of limitation for imposing penalty Chapter 1
Section- 48	Section-48 Chapter not in derogation of any other law or any other provision of this Act Chapter 1
Section- 49	Section-49 Punishment for failure to furnish return in relation to foreign income and asset Chapter 1
Section- 50	Section-50 Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India Chapter 1
Section- 51	Section-51 Punishment for willful attempt to evade tax Chapter 1
Section- 52	Section-52 Punishment for false statement in verification Chapter 1
Section- 53	Section-53 Punishment for abetment Chapter 1
Section- 54	Section-54 Presumption as to culpable mental state Chapter 1
Section- 55	Section-55 Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner Chapter 1
Section- 56	Section-56 Offences by companies Chapter 1
Section- 57	Section-57 Proof of entries in records or documents Chapter 1
Section- 58	Section-58 Punishment for second and subsequent offences Chapter 1
Section- 59	Section-59 Declaration of undisclosed foreign asset Chapter 1
Section- 60	Section-60 Charge of tax Chapter 1
Section- 61	Section-61 Penalty Chapter 1
Section- 62	Section-62 Manner of declaration Chapter 1
Section- 63	Section-63 Time for payment of tax Chapter 1
Section- 64	Section-64 Undisclosed foreign asset declared not to be included in total income Chapter 1
Section- 65	Section-65 Undisclosed foreign asset declared not to affect finality of completed assessments Chapter 1
Section- 66	Section-66 Tax in respect of voluntarily disclosed asset not refundable Chapter 1
Section- 67	Section-67 Declaration not admissible in evidence against declarant Chapter 1
Section- 68	Section-68 Declaration by misrepresentation of facts to be void Chapter 1
Section- 69	Section-69 Exemption from wealth-tax in respect of assets specified in declaration Chapter 1
Section- 70	Section-70 Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act Chapter 1
Section- 71	Section-71 Chapter not to apply to certain persons Chapter 1
Section- 72	Section-72 Removal of doubts Chapter 1
Section- 73	Section-73 Agreement with foreign countries or specified territories Chapter 1
Section- 74	Section-74 Service of notice generally Chapter 1
Section- 75	Section-75 Authentication of notices and other documents Chapter 1
Section- 76	Section-76 Notice deemed to be valid in certain circumstances Chapter 1
Section- 77	Section-77 Appearance by approved valuer in certain matters Chapter 1
Section- 78	Section-78 Appearance by authorized representative Chapter 1
Section- 79	Section-79 Rounding off of income, value of asset and tax Chapter 1
Section- 80	Section-80 Congnizance of offences Chapter 1
Section- 81	Section-81 Assessment not to be invalid on certain grounds Chapter 1
Section- 82	Section-82 Bar of suits in civil courts Chapter 1
Section- 83	Section-83 Income-tax papers to be available for purposes of this Act Chapter 1
Section- 84	Section-84 Application of provisions of Income - tax Act Chapter 1
Section- 85	Section-85 Power to make rules Chapter 1
Section- 86	Section-86 Power to remove difficulties Chapter 1
Section- 87	Section-87 Amendment of section 2 of Act 54 of 1963 Chapter 1
Section- 88	Section-88 Amendment of Act of 15 of 2003 Chapter 1

Ask your question from lawyers!

Ask anonymously

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Ask your question from lawyers!

Ask your question from lawyers!

Login or Reigster to make payment

Customer Support

100% Secure