Quick Navigation
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 2: Definitions
- 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
- Section 10: Assessment
- Section 38: Recovery of tax dues in pursuance of agreements with foreign countries or specified territory
- Section 46: Procedure
Related Acts
* Only for reference.