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Section 79 - 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
79. Rounding off of income, value of asset and tax.-
(1) The amount of undisclosed foreign income and asset computed in accordance with this Act shall be rounded off to the nearest multiple of one hundred rupees.
(2) Any amount payable or receivable by the assessee under this Act shall be rounded off to the nearest multiple of ten rupees.
(3) The method of rounding off under sub-section (1) or sub-section (2), shall be such as may be prescribed.
Related Sections
- Section 32: Modes of recovery of tax dues
- 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 27: Amendment of assessment on appeal
- Section 81: Assessment not to be invalid on certain grounds
- Section 62: Manner of declaration
Related Acts
* Only for reference.