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Section 58 - 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
58. Punishment for second and subsequent offences.-
If any person convicted of an offence under section 49 to section 53 (both inclusive) is again convicted of an offence under any of the aforesaid provisions, he shall be punishable for the second and every subsequent offence with rigorous imprisonment for a term which shall not be less than three years, but which may extend to ten years and with fine which shall not be less than five lakh rupees, but which may extend to one crore rupees.
Related Sections
- Section 42: Penalty for failure to furnish return in relation to foreign income and asset
- Section 77: Appearance by approved valuer in certain matters
- Section 34: Recovery of tax dues in case of a company in liquidation
- Section 39: Recovery by suit or under other law not affected
- Section 65: Undisclosed foreign asset declared not to affect finality of completed assessments
Related Acts
* Only for reference.