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

§ 1 Short title, extent and commencement

§ 2 Definitions

§ 3 Charge of tax

§ 4 Scope of total undisclosed foreign income and asset

§ 5 Computation of total undisclosed foreign income and asset

§ 6 Tax authorities

§ 7 Change of incumbent

§ 8 Powers regarding discovery and production of evidence

§ 9 Proceedings before tax authorities to be judicial proceedings

§ 10 Assessment

§ 11 Time limit for completion of assessment and reassessment

§ 12 Rectification of mistake

§ 13 Notice of demand

§ 14 Direct assessment or recovery not barred

§ 15 Appeals to the Commissioner (Appeals)

§ 16 Procedure to be followed in appeal

§ 17 Powers of Commissioner (Appeals)

§ 18 Appeals to Appellate Tribunal

§ 19 Appeal to High Court

§ 20 Case before High Court to be heard by not less than two Judges

§ 21 Appeal to Supreme Court

§ 22 Hearing before Supreme Court

§ 23 Revision of orders prejudicial to revenue

§ 24 Revision of other orders

§ 25 Tax to be paid pending appeal

§ 26 Execution of order for costs awarded by Supreme Court

§ 27 Amendment of assessment on appeal

§ 28 Exclusion of time taken for obtaining copy

§ 29 Filing of appeal by tax authority

§ 30 Recovery of tax dues by Assessing Officer

§ 31 Recovery of tax dues by Tax Recovery Officer

§ 32 Modes of recovery of tax dues

§ 33 Tax Recovery Officer by whom recovery of tax dues is to be effected

§ 34 Recovery of tax dues in case of a company in liquidation

§ 35 Liability of manager of a company

§ 36 Joint and several liability of participants

§ 37 Recovery through State Government

§ 38 Recovery of tax dues in pursuance of agreements with foreign countries or specified territory

§ 39 Recovery by suit or under other law not affected

§ 40 Interest for default in furnishing return and payment or deferment of advance tax

§ 41 Penalty in relation to undisclosed foreign income and asset

§ 42 Penalty for failure to furnish return in relation to foreign income and asset

§ 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

§ 44 Penalty for default in payment of tax arrear

§ 45 Penalty for other defaults

§ 46 Procedure

§ 47 Bar of limitation for imposing penalty

§ 48 Chapter not in derogation of any other law or any other provision of this Act

§ 49 Punishment for failure to furnish return in relation to foreign income and asset

§ 50 Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India

§ 51 Punishment for wilful attempt to evade tax

§ 52 Punishment for false statement in verification

§ 53 Punishment for abetment

§ 54 Presumption as to culpable mental state

§ 55 Prosecution to be at instance of Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General or Principal Commissioner or Commissioner

§ 56 Offences by companies

§ 57 Proof of entries in records of documents

§ 58 Punishment for second and subsequent offences

§ 59 Declaration of undisclosed foreign asset

§ 60 Charge of tax

§ 61 Penalty

§ 62 Manner of declaration

§ 63 Time for payment of tax

§ 64 Undisclosed foreign asset declared not to be included in total income

§ 65 Undisclosed foreign asset declared not to affect finality of completed assessments

§ 66 Tax in respect of voluntarily disclosed asset not refundable

§ 67 Declaration not admissible in evidence against declarant

§ 68 Declaration by misrepresentation of facts to be void

§ 69 Exemption from wealth-tax in respect of assets specified in declaration

§ 70 Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act

§ 71 Chapter not to apply to certain persons

§ 72 Removal of doubts

§ 73 Agreement with foreign countries or specified territories

§ 74 Service of notice generally

§ 75 Authentication of notices and other documents

§ 76 Notice deemed to be valid in certain circumstances

§ 77 Appearance by approved valuer in certain matters

§ 78 Appearance by authorised representative

§ 79 Rounding off of income, value of asset and tax

§ 80 Congnizance of offences

§ 81 Assessment not to be invalid on certain grounds

§ 82 Bar of suits in civil courts

§ 83 Income-tax papers to be available for purposes of this Act

§ 84 Application of provisions of Income-tax Act

§ 85 Power to make rules

§ 86 Power to remove difficulties

§ 87 Amendment of section 2 of Act 54 of 1963

§ 88 Amendment of Act of 15 of 2003