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Section 44 - Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
44. Penalty for default in payment of tax arrear.-
(1) Every person who is an assessee in default, or an assessee deemed to be in default, as the case may be, in making payment of tax, and in case of continuing default by such assessee, he shall be liable to a penalty of an amount, equal to the amount of tax arrear.
(2) An assessee shall not cease to be liable to any penalty under sub-section (1) merely by reason of the fact that before the levy of such penalty he has paid the tax.
Related Sections
- Section 4: Scope of total undisclosed foreign income and asset
- Section 82: Bar of suits in civil courts
- 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
- Section 65: Undisclosed foreign asset declared not to affect finality of completed assessments
- Section 25: Tax to be paid pending appeal
Related Acts
* Only for reference.