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Section 65 - 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
65. Undisclosed foreign asset declared not to affect finality of completed assessments.-
The declarant shall not be entitled, in respect of undisclosed asset located outside India declared or any amount of tax paid thereon, to reopen any assessment or reassessment made under the Income-tax Act or the Wealth-tax Act, 1957 (27 of 1957) or claim any set off or relief in any appeal, reference or other proceeding in relation to any such assessment or reassessment.
Related Sections
- Section 49: Punishment for failure to furnish return in relation to foreign income and asset
- Section 88: Amendment of Act of 15 of 2003
- Section 40: Interest for default in furnishing return and payment or deferment of advance tax
- 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 74: Service of notice generally
Related Acts
* Only for reference.